AI Work Assistant Startup Town Raises $108M Series B, Becomes Unicorn Months After Launch

US-based AI startup Town.com Inc. announced on October 19, 2026, that it has raised $108 million in a Series B round at a $1 billion valuation, achieving unicorn status. The round was co-led by Forerunner Ventures and Menlo Ventures, with participation from Andreessen Horowitz, Serena Ventures, and First Round Capital. This brings the company's total funding to $160 million, following a $55 million Series A closed in June, just months after launching its first AI assistants, known as "Townies," in June.

Co-founded by former Plaid CTO Jean-Denis Greze and serial entrepreneur Tony Vincent, Town provides each employee with an AI agent that connects to tools like email and calendars. Crucially, these agents can collaborate with other employees' agents and share approved information. In a blog post, Menlo partners Shawn Carolan, Amy Wu Martin, and Sam Borja noted that their firm's Townies became their "hardest working team members," catching forgotten commitments and surfacing contacts that had been lost for weeks.

The company claims a revenue run rate in the millions of dollars, though this figure remains modest against the $1 billion valuation. Investors are betting on Town's ability to transform business context—previously trapped in individual inboxes and minds—into a compounding asset owned by the company. However, the high valuation based on early adoption enthusiasm and multi-agent collaboration concepts still faces scrutiny regarding long-term retention and commercial sustainability.