Town.com Inc. said it raised $108 million in a Series B round at a $1 billion valuation. Forerunner Ventures and Menlo Ventures led the round, with Andreessen Horowitz, Serena Ventures and First Round Capital also taking part. The total raised so far is $160 million, including a $55 million Series A that closed in June.
Co-founder Jean-Denis Greze previously led engineering at Plaid. According to Menlo partners, Town already has a revenue run rate in the millions of dollars, just weeks after launching its first assistants, called townies, in June.
Town gives each employee a Townie that connects to email, calendars and other work systems. Townies can share approved information with each other and now work with customers and other outside parties. The founders say the company owns the context its Townies build, and a user can take it along if they leave. The new funding will go toward more integrations.
Why it matters if you build agents
Developers building multi-agent workflows can study how Town lets per-employee agents share approved information and work with outside parties. The company's claim that stored context can leave with a departing user is a design point to weigh for memory and data portability. Town's funding signals that per-person work agents attract significant investor interest, but its long-term retention has not yet been shown.
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