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

AI agent startup Town has secured $108 million in a Series B funding round, bringing its total capital raised to $160 million and achieving unicorn status with a $1 billion valuation. The round was co-led by Forerunner Ventures and Menlo Ventures, with participation from Andreessen Horowitz, Serena Ventures, and First Round Capital.

Founded in 2024, Town provides AI assistants, referred to as ‘Townies,’ designed to collaborate across teams. Unlike individual productivity tools, these agents are built to communicate with one another to complete workflows, such as sharing information between calendars, emails, and core work systems to prevent project delays.

The company was co-founded by Jean-Denis Greze, the former Chief Technology Officer of Plaid, and Tony Vincent, a former Google and Dropbox executive. Originally focused on AI-assisted tax preparation for small businesses, the startup expanded into general workplace assistance following its public launch in June.