Town Raises $108M Series B at a $1B Valuation to Bring AI Assistants to Whole Teams

Now valued at $1B, Town extends its AI work assistant from individuals to whole teams

SAN FRANCISCO, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Town, the AI assistant built for teamwork, today announced a $108 million Series B. The round was co-led by Forerunner Ventures and Menlo Ventures. Existing investors a16z and First Round Capital also participated, along with Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures, Sparked Ventures, and notable angels, including Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama, and Varun Anand. The round values Town at $1 billion.

Town is Built for Your Most Critical Work

AI personal assistants are beginning to handle the edges of everyday life: dinner reservations, flight changes, subscription cancellations. Those tasks lighten our mental load, but they sit on the margins of the day. Town is built for the center of it. Work fills eight or more hours of most people’s day, and it’s also how people make a living. So when context gets lost or decisions stall, the cost is highest at work.

At work, AI has already made each person far more productive on their own. But most work depends on other people: an updated model from finance, access to an app from an ops lead, input from the field sales team. The faster each person moves, the more they need from their teammates, and work slows to a crawl while they’re waiting for each other.

Today's AI assistants can't close that gap. A personal AI assistant knows its user but can't work directly with the rest of the team. A team bot can see shared channels but can't see anyone's inbox or preferences, so it never really knows any one person. Neither can work well with people outside the company.

With Town, each person gets an AI assistant, called a Townie. A Townie connects to its person’s email, docs, calendar, and the core systems they work in. It learns their relationship context, projects, and voice, and takes work off their plate.

How Townies Work Together

Now, for the first time, those assistants can work directly with each other to move projects forward. They ask each other questions, connect the dots, and hand off work. Each Townie still works for its person. A Townie shares only what that person would share, asks permission when needed, and brings them the decisions that need their uniquely human eye. Townies can also work directly with customers, partners, and candidates outside the company over email and text.

Teams can also enable shared workflows. For example, when BizOps adds new fields to the competitor battle cards, it updates the team’s call-prep process once. From then on, every rep's Townie preps calls with the new competitive analysis built in, updating materials to reflect the improved positioning.

“More people are trusting AI assistants with real tasks, and work is where they need the most help,” said Jean-Denis Greze, co-founder and CEO of Town. “Each Townie learns how its person works so it can take on their core work. Townies can ask each other questions and hand off work, so no one is stuck waiting. AI has made each of us faster on our own. Now, it can make teams faster together.”

Built for Business

Each company owns the context its Townies build. Town takes the scattered knowledge that exists across the business and turns it into a shared, compounding asset that helps your business thrive. Instead of slowing down as you scale, your company grows smarter and faster.

Town leverages models from all the major AI labs, using the best model for each task and keeping customers from getting locked into one lab. By default, nothing a customer connects trains a model. Town is SOC 2 Type 2 compliant and has a public data processing agreement (DPA).

“In 2008 Menlo backed Siri to transform the user interface to the Internet. In 2026, the technology has arrived, and the opportunity is bigger than ever,” said Shawn Carolan, Partner at Menlo Ventures. “But focused companies pick their battles, and Town has wisely chosen business over pleasure. A longer way to go, with more demanding requirements, but ultimately the larger. Menlo couldn’t be more excited to support Jean-Denis, Tony and the team on this journey.”

Growth

Town launched publicly in June 2026 with a $55 million Series A and reached 7-digits of ARR in weeks. Since July 2026, paying customers have grown 4x and paying teams are up 9x.

About Town

Town is an AI assistant built for teamwork. Each person gets a Townie that learns their people, projects, and voice, and takes work off their plate. Townies work together across a company and with customers, partners, and candidates. Town is backed by Forerunner Ventures, Menlo Ventures, a16z, and First Round Capital. Learn more at town.com.

Media Contact:
press@corp.town.com