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

The round was co-led by Forerunner Ventures and Menlo Ventures, with Andreessen Horowitz and First Round Capital returning. Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures and Sparked Ventures also took part, alongside a group of angels. Each Townie connects to a person's email, documents, calendar and core work systems. Town launched publicly in June 2026 after a $55 million Series A, and TechCrunch reports it has raised at least $160 million to date. The company says it reached millions of dollars in annual recurring revenue within weeks of launch. The $1 billion valuation is the figure Menlo published. For founders building agents, the signal is that buyers now pay for assistants that work across a whole team rather than one user. Town's design shares only what each person would share, a constraint any team-facing agent product will have to solve.