# Town raises $108 million Series B at $1 billion valuation

Digest AI · Business & Funding · published 2026-10-19T18:20:00Z · updated 2026-10-19T18:43:15Z

Canonical: https://digestai.news/story/town-raises-108-million-series-b-at-1-billion-valuation

## Summary

Town, a San Francisco startup that builds AI assistants for employees, announced a $108 million Series B funding round on Monday. The round was co‑led by Forerunner Ventures and Menlo Ventures and also included Andreessen Horowitz, Serena Ventures and First Round Capital, bringing the company’s total capital raised to at least $160 million and giving it a $1 billion unicorn valuation.

The company’s product, a personal assistant called a Townie, connects to email, calendar and other core work systems. Town introduced a shared workflow that automatically updates every employee’s Townie with new business information, removing the need for each worker to update their own assistant. Townies can also exchange approved data with each other and now interact with customers and external partners.

Town was founded by former Plaid CTO Jean‑Denis Greze and launched publicly only four months ago. It says it reached millions of dollars in annual recurring revenue within weeks. The outlet reached out to Town for comment but has not received a response.

## Key points

- Town closed $108 million Series B, co-led by Forerunner Ventures and Menlo Ventures, reaching a $1 billion valuation.
- The round also includes Andreessen Horowitz, Serena Ventures, and First Round Capital, bringing total funding to at least $160 million.
- Town’s AI assistant “Townie” integrates with email, calendar and other work tools, now can share info across employees and with external customers.

## Why it matters

The funding validates rapid demand for enterprise AI assistants that automate routine work, and the shared‑workflow feature could speed adoption across businesses of all sizes.

## Sources

1. [Town, which develops enterprise AI assistants, raised a $108M Series B at a $1B valuation, after announcing a $55M Series A in June](https://techcrunch.com/2026/10/19/ai-assistant-startup-town-nabs-unicorn-valuation-four-months-after-launch) (techcrunch.com, 2026-10-19)
2. [Town Lands $108M Series B as Valuation Hits $1B for Collaborative AI Assistants](https://unite.ai/town-lands-108m-series-b-as-valuation-hits-1b-for-collaborative-ai-assistants) (Unite.AI, 2026-10-19)

## Cite

Digest AI, "Town raises $108 million Series B at $1 billion valuation", 19 October 2026, https://digestai.news/story/town-raises-108-million-series-b-at-1-billion-valuation

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