City, a two-year-old, San Francisco-based startup growing AI assistants, nabbed a unicorn valuation on Monday, asserting a $108 million Sequence B funding spherical co-led by Forerunner Ventures and Menlo Ventures. The corporate launched publicly simply 4 months in the past and mentioned it reached tens of millions of {dollars} in annual recurring income in a matter of weeks. It has raised at the very least $160 million up to now, having beforehand introduced a $55 million Sequence A spherical in June.
City — based by former Plaid CTO Jean-Denis Greze — is one in every of many AI assistants flooding the market proper now. City targets companies, giving every worker an AI assistant referred to as a Townie that helps with duties by connecting to instruments resembling emails and calendars, in addition to different core work techniques. Staff’ Townies can discuss to one another and share authorised data; they’ll additionally now work with clients and others exterior the corporate.
Alongside the funding, City introduced a shared workflow that routinely updates staff’ Townies with new enterprise data moderately than requiring every employee to replace their very own Townie. Andreessen Horowitz, Serena Ventures, and First Spherical Capital additionally participated within the spherical.
We’ve reached out to the corporate for remark.
