AI assistant startup Town nabs unicorn valuation four months after launch

Town, a two-year-old, San Francisco-based startup processing AI assistants, nabbed a unicorn valuation connected Monday, announcing a $108 cardinal Series B backing circular co-led by Forerunner Ventures and Menlo Ventures. The institution launched publically conscionable 4 months agone and said it reached millions of dollars successful yearly recurring gross successful a substance of weeks. It has raised astatine slightest $160 cardinal to date, having antecedently announced a $55 cardinal Series A circular successful June.

Town — founded by erstwhile Plaid CTO Jean-Denis Greze — is 1 of galore AI assistants flooding the marketplace close now. Town targets businesses, giving each worker an AI adjunct called a Townie that helps with tasks by connecting to tools specified arsenic emails and calendars, arsenic good arsenic different halfway enactment systems. Employees’ Townies tin speech to each different and stock approved information; they tin besides present enactment with customers and others extracurricular the company. 

Alongside the funding, Town announced a shared workflow that automatically updates employees’ Townies with caller concern accusation alternatively than requiring each idiosyncratic to update their ain Townie. Andreessen Horowitz, Serena Ventures, and First Round Capital besides participated successful the round. 

We’ve reached retired to the institution for comment.