Town Secures $108M in Series B at $1B Valuation

Town, a San Francisco, CA-based provider of an AI assistant platform built for teamwork, has raised $108 million in a Series B funding round co-led by Forerunner Ventures and Menlo Ventures at a $1 billion valuation.

The round also saw 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.

The company intends to use the funds to expand operations and continue developing its platform.

What is Town?

Town develops AI assistants called Townies that help employees manage work and collaborate with teammates, customers, and external partners.

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Each Townie connects to its user's email, documents, calendar, and other work systems. It learns about the user's projects, relationships, and communication style to help complete tasks and reduce delays.

Townies can also communicate with one another to share information, answer questions and coordinate work. The platform follows user permissions, and seeks approval when needed, allowing teams to automate workflows while maintaining control over what information is shared.

How Much Funding Has Town Raised?

Town has raised $108 million in its Series B funding round at a $1 billion valuation. The source does not provide details of previous funding rounds or the company's total funding raised to date.

Who Invested in Town’s Series B?

The $108 million Series B round was co-led by Forerunner Ventures and Menlo Ventures.

Other participating investors include:

• a16z
• First Round Capital
• Better Tomorrow Ventures
• Precedent.vc
• Scribble Ventures
• Serena Ventures
• Sparked Ventures

Individual investors included Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama, and Varun Anand.

Why the Funding Matters

Town plans to use the funding to expand operations and continue developing its AI assistant platform.

The company aims to help teams coordinate work more efficiently by allowing AI assistants to exchange information, manage shared workflows, and work directly with customers, partners, and candidates over email and text.

Who founded Town?

Town was founded in 2024 by Jean-Denis Greze. The company is headquartered in San Francisco, California.

“More people are trusting AI assistants with real tasks, and work is where they need the most help,” said Jean-Denis Greze, co-founder and CEO of Town. “Each Townie learns how its person works so it can take on their core work. Townies can ask each other questions and hand off work, so no one is stuck waiting.

“In 2008, Menlo backed Siri to transform the user interface to the Internet. In 2026, the technology has arrived, and the opportunity is bigger than ever,” said Shawn Carolan, Partner at Menlo Ventures. “But focused companies pick their battles, and Town has wisely chosen business over pleasure. A longer way to go, with more demanding requirements, but ultimately the larger.

Market and Business Growth

Town focuses on workplace collaboration, where delays often occur because employees depend on information or decisions from colleagues.

Its platform connects individual AI assistants across teams so they can coordinate tasks while respecting user permissions. Teams can also update shared workflows, allowing each employee's Townie to apply changes to tasks such as sales call preparation.

The source does not provide customer numbers, revenue figures, or other adoption metrics.

What Happens Next?

Town plans to expand its operations and continue developing its platform. Its focus is on enabling AI assistants to coordinate work across teams and communicate with external contacts while helping employees retain control over their information and decisions.

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