Town raises $108M
Town, a San Francisco, California-based provider of an AI assistant platform built for teamwork, raised $108M in Series B funding at a $1 billion valuation.
The round was co-led by Forerunner Ventures and Menlo Ventures, with participation from a16z, First Round Capital, Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures, Sparked Ventures, Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama, and Varun Anand.
Led by CEO Jean-Denis Greze, Town provides an AI assistant called a Townie that connects to email, docs, calendars, and core systems to handle tasks. Their platform allows Townies to work directly with each other and with external contacts over email and text to answer questions, share information based on user permissions, and execute shared workflows across teams.
The company intends to use the funds to expand operations and continue developing its platform.
