Source: Unite.AI
Town, the company behind an AI work assistant it calls a Townie, announced a $108 million Series B on October 19, 2026, co-led by Forerunner Ventures and Menlo Ventures at a $1 billion valuation.
Series B Terms and Investors
Town’s announcement, datelined San Francisco and published October 19, 2026, was authored by co-founders Tony Vincent and Jean-Denis Greze. Beyond co-leads Forerunner Ventures and Menlo Ventures, existing investors a16z and First Round Capital participated, along with Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures, and Sparked Ventures. The release also names angel investors Brendan Foody, Josh Silverman, Romain Huet, Scott Belsky, Steve Bartel, Taro Fukuyama, and Varun Anand.
“More people are trusting AI assistants with real tasks, and work is where they need the most help,” Greze, Town’s co-founder and CEO, said in the announcement. He said each Townie learns how its person works so it can take on that person’s core work, and that because Townies can ask each other questions and hand off work, no one is stuck waiting.
How Townies Work Together
Each Town user gets an AI assistant called a Townie. A Townie connects to its person’s email, documents, calendar, and the core systems that person works in, and it learns their relationship context, projects, and voice.
Town says that, with this launch, its assistants can work directly with each other for the first time: they ask each other questions, connect context across a team, and hand off work. Each Townie still works for its own person, sharing only what that person would share, asking permission when needed, and surfacing the decisions that require human judgment. Townies can also work directly with customers, partners, and candidates outside the company over email and text.
Teams can also enable shared workflows. The company’s example: when a BizOps team adds new fields to its competitor battle cards, it updates the team’s call-prep process once, and from then on every sales representative’s Townie preps calls with the new competitive analysis built in.
In a founders’ post also published October 19, 2026, Greze and Vincent describe further scenarios: a Townie drafting a message in an executive’s voice so the executive only has to hit send; a Townie checking across the whole team for a warm connection to a target contact, requesting the introduction, and booking the meeting; a Townie running a draft past teammates’ Townies before a presentation; and a single process improvement propagating to every Townie on the team. The founders state that thousands of businesses now rely on Townies to get work done every day.
Data Ownership, Security, and Model Choice
Town states that each company owns the context its Townies build, and that customers who leave Town can take that context with them. By default, nothing a customer connects is used to train a model. The company states it is SOC 2 Type 2 compliant and publishes its data processing agreement. Town also says it is provider-neutral: it uses models from all the major AI labs and selects the appropriate model for each task, so customers are not locked into a single provider.
Company-Reported Growth and the June Series A
Town launched publicly in June 2026 with a $55 million Series A and, the company reports, reached seven figures in annual recurring revenue within weeks. The company also reports that paying customers have grown 4x and paying teams 9x since July 2026.
The Series A announcement, published June 3, 2026, said that round was led by a16z with participation from Forerunner Ventures, First Round, Alt Capital, and Conviction. At the time, Town said its assistant lives in users’ inboxes, calendars, Slack, documents, iOS, WhatsApp, and desktop environments, and it described a trust model built on approval-required defaults, per-action controls, and a full audit log of everything a Townie does on a user’s behalf.
Menlo Ventures’ Account and the Founders’ Backgrounds
In a post on Menlo Ventures’ website, the firm confirmed it is co-leading the round alongside Forerunner, with participation from a16z and First Round. Menlo said it put its entire firm on Town in June 2026 and described its Townies triaging inboxes at 6 a.m., preparing briefings before anyone has logged on, and chasing follow-ups over weekends. The firm said its own team has roughly doubled in size over the past five months, counting assistants that work for less than $100 per month.
Menlo states that knowledge workers spend more than 13 hours a week on email, chat, and text. The firm reports that Town has more than 60 integrations, spanning CRM tools such as Salesforce and Affinity, project-management tools such as Jira and Asana, coding tools such as GitHub and Cursor, and finance tools such as QuickBooks and Stripe, and that Town writes drafts rather than sending by default. Menlo described Town’s user base as ranging from founders and operators to small business owners who run their companies from email, real estate agents, executive assistants, consultants, and parents coordinating households.
“In 2008 Menlo backed Siri to transform the user interface to the Internet. In 2026, the technology has arrived, and the opportunity is bigger than ever,” Shawn Carolan, a partner at Menlo Ventures, said in Town’s announcement.
According to Menlo, Greze and Vincent have worked together since Dropbox, where Greze ran engineering and Vincent led product design. Greze went on to serve as CTO of Plaid as that company grew from roughly $10 million to more than $300 million in annual recurring revenue, and Vincent founded and sold two companies before leading product for Applied AI at Google. Menlo’s post also notes that Carolan built Handle, an email and task assistant, in the early 2010s.