Town raises $108M at a $1B valuation for its workplace AI assistants
Former Plaid CTO Jean-Denis Greze and product co-founder Tony Vincent say Town reached millions in annual recurring revenue within weeks of its public launch.
By Ryan Merket · Published
Primary source: TechCrunch
Why it matters
Town's $108 million round prices a young workplace assistant at $1 billion on the strength of rapid, company-reported revenue and a product built around persistent work context. The funding gives its repeat founders room to prove that employees will keep an assistant connected to the systems where their work happens.
Town, co-founded by former Plaid CTO Jean-Denis Greze and product leader Tony Vincent, raised $108 million in a Series B at a $1 billion valuation on October 19th. The round was co-led by Forerunner Ventures and Menlo Ventures, with Andreessen Horowitz, First Round Capital and Serena Ventures also participating, according to TechCrunch.…
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