AI startup Town reaches $1 billion valuation after $108 million raise
San Francisco-based startup Town has secured $108 million in Series B funding, valuing the company at $1 billion.
The funding round was co-led by Forerunner Ventures and Menlo Ventures. Town was co-founded in late 2024 by Jean-Denis Greze, the former CTO of Plaid, and Tony Vincent.
The startup focuses on AI agents designed to automate administrative tasks for small- and mid-market businesses. According to CEO Jean-Denis Greze, the core challenge in the current market is transitioning users from treating AI as a search tool to utilizing it for agentic workflows, such as managing email-driven business processes.
Town operates on a subscription model for businesses, priced at $50 per month. Looking ahead, the company aims to develop live voice-enabled assistance and cross-agent communication protocols to facilitate internal workflows while maintaining data privacy.