On October 19, 2026, Menlo Ventures announced that it is co-leading a $108 million Series B in Town at a $1 billion valuation, alongside Forerunner, with a16z and First Round participating. The announcement was published by Menlo as a party to the round under the title “Talk of the Town: Menlo Is Co-Leading Town’s $108M Series B.”
Town is an email-first AI assistant for work. Each user gets a named assistant, a “Townie,” that proposes work and drafts messages across more than 60 integrations, including Salesforce, Jira, GitHub, QuickBooks and Stripe. Menlo notes that Town is SOC 2-certified, does not train on customer data, and “by default, writes drafts rather than sends.” The company was founded by Jean-Denis Greze, formerly CTO of Plaid, and Tony Vincent.
Menlo described using Town internally and said its Townies cost less than $100 a month per assistant. It wrote: “Town has the best product and the best team we have seen in the category.”
Why it matters: personal AI assistants that act on a user’s inbox and business systems are moving from demos to funded companies with unicorn valuations. Town’s default of drafting rather than sending is a concrete design choice about how much autonomy a workplace agent should have.
What it does not show: the source is an investor’s announcement, and neither it nor any primary document read here discloses Town’s users, revenue or growth. Menlo’s internal experience is a testimonial, not a measured evaluation.