Town raises $108M at a $1B valuation so AI assistants can work as a team

Town, a San Francisco startup that gives each person at work an AI work assistant , has raised $108m in a Series B that values it at $1bn. Forerunner Ventures and Menlo Ventures co-led the round, the company announced on Monday.

Existing investors a16z and First Round Capital took part, along with Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures and Sparked Ventures. Angel investors include Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama and Varun Anand.

Each person gets an assistant, which Town calls a Townie. It connects to that person’s email, documents, calendar and the core systems they work in. It learns their relationships, projects and voice, and takes work off their plate.

Town is now extending Townies from individuals to whole teams. The assistants can ask each other questions and hand off work, the company says. Each one shares only what its person would share, asks permission when needed and brings decisions back to that person. Townies can also work with customers, partners and candidates outside the company, over email and text.

“AI has made each of us faster on our own. Now, it can make teams faster together.” Jean-Denis Greze, co-founder and CEO of Town

Teams can also share workflows. When one team updates a process, such as the way sales reps prepare for calls, every rep’s Townie picks up the change, according to Town.

Each customer owns the context its Townies build, Town says, and can take it along if it leaves. By default, Town does not use anything a customer connects to train a model. Town uses models from the major AI labs and picks one for each task. That way, customers are not locked into a single lab. Town is SOC 2 Type 2 compliant and publishes its data processing agreement.

Town launched publicly in June 2026 with a $55m Series A. It reached seven figures in annual recurring revenue within weeks, the company says. Since July, its paying customers have grown fourfold and its paying teams ninefold.

Thousands of businesses now use Townies every day, Greze and Tony Vincent wrote in a blog post on the round. Shawn Carolan, a partner at Menlo Ventures, said his firm backed Siri in 2008 . He said Town had chosen business over pleasure.