AI assistant startup Town hits $1 billion valuation with $108 million Series B

Town, a San Francisco AI assistant startup, is now a unicorn. The company announced a $108 million Series B on Monday, October 19, 2026, at a $1 billion valuation. The startup only launched publicly in June, so it reached that mark in a matter of months. Forerunner Ventures and Menlo Ventures co-led the round. Who wrote the checks The round drew a mix of returning and new backers. Existing investors a16z and First Round Capital came back for more. New investors on the cap table include Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures, and Sparked Ventures. The Series B caps a fast fundraising run. Town raised an $18 million seed round in March 2025, led by First Round Capital. It followed that with a $55 million Series A ahead of its June 2026 public launch. Now it has added $108 million on top. What Town actually sells Town builds AI assistants it calls “Townies.” They plug into the tools people already live in, including email, calendars, Slack, Gmail, and Google Workspace. The pitch is a proactive, “chief-of-staff” style agent. Instead of opening a chatbot and typing out a prompt, users get an assistant that works inside their existing tools and handles...