Town raises $108M Series B at $1B valuation to expand its AI work assistants

AI assistant startup Town announces it has reached a unicorn valuation, following a $108 million Series B round. The company, based in San Francisco, says the financing values it at $1 billion.

Town describes its product as a set of AI work assistants for people at work, focused on enabling assistants to coordinate with each other. TechCrunch and The Next Web both report that Forerunner Ventures and Menlo Ventures co-lead the Series B, while existing investors including a16z and First Round Capital also participate. Additional participating investors are listed by The Next Web, including Better Tomorrow Ventures and Precedent.vc (details beyond those shared across outlets are not specified in TechCrunch’s brief report).

Across the coverage, the main emphasis is on the size and valuation of the new funding round, with both outlets tying the round to Town’s efforts to scale its AI assistant offering.