Former Plaid CTO's Town Hits a $1 Billion Valuation Four Months After Launch on a $108M Series B

Town, a San Francisco startup that gives every employee in a company its own AI assistant, has reached unicorn status at unusual speed. The two-year-old company announced a 108 million dollar Series B co-led by Forerunner Ventures and Menlo Ventures at a one billion dollar valuation, just four months after launching publicly and barely three months after announcing a 55 million dollar Series A in June. Andreessen Horowitz, Serena Ventures and First Round Capital also joined, bringing total funding to at least 160 million dollars.

The company was founded by Jean-Denis Greze, previously chief technology officer of the payments data platform Plaid, and its product reflects that enterprise plumbing pedigree. Each employee gets an assistant called a Townie that connects to email, calendars and other core work systems to handle tasks on the person's behalf. Townies can talk to each other, share information once their owners approve it, and, as of this round, work with customers and other people outside the company too.

Alongside the funding, Town is introducing what it calls a shared workflow: when new business information arrives, every employee's Townie is updated automatically, rather than each worker having to brief their own assistant. It is a small feature with a large implication, treating the assistant fleet less like a set of individual chatbots and more like a shared organizational memory with per-person views.

The traction claim is striking but comes from the company itself: Town says it reached millions of dollars in annual recurring revenue within weeks of its public launch. No customer counts or revenue figures have been independently verified, and the valuation is best read as a bet on where enterprise agents are heading rather than an audit of today's financials.

Town is entering one of the most crowded categories in software. Meta, Microsoft, Google and OpenAI are all shipping workplace assistants, and a wave of venture-backed startups is attacking the same workflow. Town's bet is that the winning design is not a single assistant bolted onto an app, but per-person agents embedded in a company's existing systems, coordinating with each other the way employees do.

The round is also another data point in how quickly enterprise agent capital is moving. Four months from launch to unicorn is rare even by 2026 standards, and investors are clearly willing to pay up for teams with credentials in financial infrastructure, where reliability, permissions and audit trails matter more than demo flair.

The open question is differentiation. If assistants become commodities, distribution and integrations decide the market, which favors the incumbents Town is trying to outflank. If the multi-agent, per-employee model proves meaningfully more useful than one shared assistant, Town's early lead in making agents talk to each other could age well.