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

Forerunner Ventures and Menlo Ventures co-led the round as Town bets that AI agents can act like a chief of staff for whole teams 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. 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.

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