Town raises $108 million in Series B at unicorn valuation
Forerunner Ventures and Menlo Ventures co-led the round, which comes four months after the workplace AI assistant startup's public launch.
Tolan raises $30 million for AI companion app
Union Square Ventures, Khosla Ventures and Homebrew participated in the round, which doubled the startup’s total funding, according to a media report.
AI companion startup Tolan has received $30 million in additional funding from investors including Union Square Ventures, Khosla Ventures and Homebrew, according to a media report. The financing doubled its cumulative funding and lifted its valuation above the previous $120 million.
Tolan did not disclose its latest valuation. PitchBook puts it above $268 million, though it assigns only medium confidence to that estimate.
The app uses a cartoon-style character to interact with people, offering support with everyday tasks, personal goals, relationships and emotions. Tolan earns revenue through membership tiers, with a subscription needed to unlock its complete set of features.
The company says it has over 250,000 active users and that conversations on the app exceeded 70 million during the past year. Its team said women account for around 70% of users, while parents make up 40%, according to the media report.