Town Raises $108M Series B at $1B Valuation

Town, based in San Francisco, is an AI software company that provides AI-powered assistants for teamwork. The company has raised $108 million in a Series B round, bringing its total valuation to $1 billion. This new funding follows an earlier Series A round announced in June 2026.

Investors

The round was co-led by Forerunner Ventures and Menlo Ventures. Participating investors included a16z, First Round Capital, Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures, Sparked Ventures, and individual angel investors Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama, and Varun Anand.

Town Use of Funds

Town plans to utilize the capital to expand the capabilities of its AI work assistants and further develop its platform to enable seamless collaboration and project management for entire teams.

About Town

Founded to solve the friction in professional workflows, Town provides each user with an AI assistant called a Townie. These assistants connect to individual workflows including email, calendars, and documentation to automate tasks and communicate with other assistants across a company to coordinate projects and external-facing tasks.

Funding Details

Company Website: https://town.com

Company: Town.com, Inc.
Raised: $108M
Round: Series B
Funding Date: October 19, 2026
Lead Investor: Forerunner Ventures, Menlo Ventures
Additional Investors: a16z, First Round Capital, Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures, Sparked Ventures, Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama, Varun Anand
Company Website: https://www.town.com
Software Category: Artificial Intelligence
Source: https://www.globenewswire.com/news-release/2026/10/19/3383492/0/en/town-raises-108m-series-b-at-a-1b-valuation-to-bring-ai-assistants-to-whole-teams.html