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.
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.
Town, a San Francisco startup building artificial intelligence assistants for businesses, announced $108 million in Series B financing at a unicorn valuation. Forerunner Ventures and Menlo Ventures jointly led the funding, with participation from Andreessen Horowitz, Serena Ventures and First Round Capital.
The two-year-old company has raised at least $160 million, including a $55 million Series A announced in June. Town made its public debut four months ago and said its annual recurring revenue reached millions of dollars within weeks.
Founded by former Plaid CTO Jean-Denis Greze, Town offers each employee an assistant called a Townie. The company says these assistants connect with email, calendars and other workplace systems to help complete tasks. They can exchange approved information with one another and now also work with customers and people outside the business.
Town also introduced a shared workflow alongside the financing. The company said it automatically supplies employees' Townies with new business information, removing the need for each worker to update an assistant individually.