The startup launched in June and reached seven figures in annual recurring revenue within weeks of its debut. Since July, its paying customer base has expanded fourfold and the number of paying teams has increased ninefold. The company aims to establish a competitive moat by making its software more useful as a larger portion of a corporate team adopts the agents.
Tuesday, October 20, 2026
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Town Raises $108M at $1B Valuation for Multiplayer AI Agents
Startups1 day ago
Town's AI assistants connect directly to corporate email, documents, and calendars to learn individual workflows and transfer work to other agents on a team. The company recently raised $108 million in a Series B round co-led by Forerunner Ventures and Menlo Ventures, bringing its total capital raised to $181 million and its valuation to $1 billion. These "Townies" are designed to act as collaborative agents that communicate with each other to resolve bottlenecks where employees are waiting on teammates.
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