Town raises $108M at $1B valuation for team AI assistants

San Francisco startup Town has raised $108M in a Series B at a $1B valuation, co-led by Forerunner Ventures and Menlo Ventures, with a16z and First Round Capital participating. Its Townie AI assistants now hand off work and ask each other questions across teams.

• Town hit a $1B valuation with a $108M Series B round
• Forerunner Ventures and Menlo Ventures co-led the round
• Townies can hand off work and ask each other questions
• Paying customers grew fourfold and paying teams ninefold since July