From SiliconANGLE · Mike Wheatley · · 1m 40s
Town AI startup hits $1 billion valuation after $108M funding
Town, an AI work assistant startup, secured $1 billion valuation after raising $108 million in Series B funding just weeks post-launch.
In brief
Town, an AI work assistant startup, secured $1 billion valuation after raising $108 million in Series B funding just weeks post-launch. Town, an AI work assistant startup, raised $108 million in Series B funding to reach $1 billion valuation within weeks of launching. Originally reported by SiliconANGLE.
Town secures $1 billion valuation
Town, an AI work assistant startup, raised $108 million in Series B funding to reach a $1 billion valuation.
Funding led by Forerunner and Menlo
The Series B round was led by Forerunner Ventures and Menlo Ventures, with participation from Andreessen Horowitz, Serena Ventures, and First Round Capital.
Town co-founded by Jean-Denis Greze and Tony Vincent
Town was co-founded by former Plaid Inc. Chief Technology Officer Jean-Denis Greze and Tony Vincent, who previously worked at Aspen Designs and Sold Inc.
Town achieves revenue run rate in millions
Town reported a revenue run rate in the millions of dollars just weeks after launching its first assistants, known as 'townies,' in June.
Townies connect employees and tools
Townies help employees with tasks by connecting to tools like emails, calendars, and other core work systems.
Townies share approved information
Employees’ Townies can talk to each other and share approved information; they can also work with customers and others outside the company.
Menlo partners praise Town
Menlo’s partners wrote that Townies became their hardest working team members within weeks, catching forgotten commitments and pulling context before anyone searched.
Townies understand business context
Townies know how their CEO writes, who has strong relationships with buyers, and what each sales lead cares about most.
The one thing
Town, an AI work assistant startup, raised $108 million in Series B funding to reach $1 billion valuation within weeks of launching.
