Town reaches $1 billion valuation following $108 million funding round

Workplace assistant startup Town has raised $108 million in a Series B round that elevates the company to a $1 billion valuation. Co-led by Forerunner Ventures and Menlo Ventures, the round included backing from Andreessen Horowitz, Serena Ventures, and First Round Capital. The two-year-old firm, founded by former Plaid CTO Jean-Denis Greze, has secured at least $160 million in total financing following a public debut just four months earlier. [1][2]

Town assigns each employee an AI assistant known as a Townie, which integrates with calendars, emails, and core enterprise systems. These agents can collaborate with one another, share approved data, and interface with external clients. Alongside the investment, the startup introduced a shared workflow feature that automatically syncs company-wide updates across all Townies, sparing individual employees from having to manually refresh their own assistants. [1][2]