San Francisco-based AI startup Town has raised $108 million in a Series B funding round co-led by Forerunner Ventures and Menlo Ventures, valuing the company at $1 billion.
The round included participation from existing investors Andreessen Horowitz (a16z) and First Round Capital, alongside Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures and Sparked Ventures. Individual investors included Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama and Varun Anand.
Founded in 2024 by Jean-Denis Greze and Tony Vincent, Town develops AI assistants designed to manage individual work and coordinate tasks across teams. Greze, the company’s co-founder and CEO, previously served as chief technology officer at Plaid, while Vincent, co-founder and chief product officer, previously held a product leadership role at Google.
Town’s platform provides users with personalised AI assistants called Townies. Each assistant connects with workplace tools, including email, documents, calendars and business applications, to understand ongoing projects, retrieve information and perform tasks.
The company has introduced capabilities that allow Townies to communicate with one another, exchange information within user-defined permissions and coordinate work across employees. The assistants can also interact with customers, partners and other external contacts through email and text messages.
Town also supports shared workflows, allowing businesses to update processes centrally so that individual assistants can incorporate changes into their work.
The company previously announced a $55 million Series A funding round in June 2026, led by a16z, with participation from Forerunner Ventures and other investors.
Since its public launch in June 2026, Town has reported growth in adoption. According to the company, its number of paying customers increased fourfold and paying teams increased ninefold from July 2026. Town also said it reached seven-figure annual recurring revenue within weeks of launching.
The latest financing accompanies Town’s expansion from individual AI assistance into coordinated workplace workflows, with its platform designed to help employees and their AI assistants collaborate on business tasks.
