Town, a San Francisco startup that gives each employee at a company a personal AI assistant, has raised $108m in a Series B round. The company announced the funding on 19 October 2026 in a blog post by its co-founders, Jean-Denis Greze and Tony Vincent.
Forerunner Ventures and Menlo Ventures co-led the round. Existing backers Andreessen Horowitz and First Round Capital invested again, and Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures and Sparked Ventures also took part.
The Next Web reported that the round valued Town at $1bn. TechCrunch described the valuation only as a unicorn valuation and did not give a figure, and Town's own blog post did not mention one.
“AI has made each of us faster on our own. Now, it can make teams faster together.”Jean-Denis Greze, Co-founder and CEO, Town
What Town does
Town's product is an assistant it calls a Townie. Each one connects to a person's email, calendar, documents and other work systems, and learns who they work with, what they are working on and how they write. It can then take on tasks such as drafting messages in that person's style for them to approve and send.
The release that accompanied the funding focuses on Townies working together. According to the blog post and The Next Web, assistants can now ask each other questions and hand off work across a team, sharing only what their owner would share and returning decisions to that person. Townies can also deal with customers, partners and job candidates outside the company over email, text and chat.
Teams can share workflows, so that when one person improves a process or a set of talking points, every Townie on the team picks up the change. Town gave other examples, including finding mutual connections across a team to request introductions, and testing a presentation against colleagues' Townies to see which questions are likely to come up.
"AI has made each of us faster on our own. Now, it can make teams faster together," Greze, who is chief executive, said in comments reported by The Next Web. TechCrunch reported that he was previously chief technology officer at Plaid.
Data and security
Town said the context its assistants build up is owned by the customer, and that customers can take it with them if they stop using the service. By default it does not use what customers connect to train models, it is SOC 2 Type 2 compliant and it has published its data processing agreement.
The company does not build its own models. It uses models from several AI labs and picks one for each task, which it says means customers are not tied to a single provider.
Who invested
The round also included angel investors Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama and Varun Anand.
The Next Web reported that Shawn Carolan, a partner at Menlo Ventures, pointed out that his firm had backed Siri in 2008, and said Town had chosen to focus on business use rather than consumers.
The funding so far
TechCrunch described Town as two years old. It launched publicly in June 2026, when it announced a $55m Series A. TechCrunch put its total funding at at least $160m including the new round.
Town has not said how it will spend the new money or how many people it employs.
The company has given some figures on growth, none of them independently verified. According to The Next Web, Town said it reached seven-figure annual recurring revenue within weeks of its June launch, and that its number of paying customers has grown fourfold and paying teams ninefold since July. TechCrunch also reported that annual recurring revenue reached millions of dollars within weeks. The co-founders wrote that thousands of businesses use Townies every day.
Company website: town.com