Town Raises $108 Million Series B at a $1 Billion Valuation

Gunderson Dettmer represented Town in its $108 million Series B financing, valuing the company at $1 billion. The round was co-led by Forerunner Ventures and Menlo Ventures with participation from a16z, First Round Capital, Better Tomorrow Ventures, Precedent.vc, Scribble Ventures, Serena Ventures, and Sparked Ventures. 

Town is an AI assistant built for teamwork, giving each person a Townie that learns their people, projects, and voice and takes work off their plate. Townies work together across the company and with customers, partners, and candidates. The new financing will support Town as it extends its AI work assistant from individuals to whole teams.

"More people are trusting AI assistants with real tasks, and work is where they need the most help," said Jean-Denis Greze, co-founder and CEO of Town, in the announcement of the transaction. "Each Townie learns how its person works so it can take on their core work. Townies can ask each other questions and hand off work, so no one is stuck waiting. AI has made each of us faster on our own. Now, it can make teams faster together."

The Gunderson deal team was led by David Gammell and included Alexandra Noymer and Wesley Sheker.