First Round Capital

Headlines · 2

1. Oct 19
   Town raises $108M Series B at $1B valuation for team-working AI assistants

   Town, a San Francisco startup that gives each employee an AI work assistant, announced on Monday a $108 million Series B at a $1 billion valuation, co-led by Forerunner Ventures and Menlo Ventures, with Andreessen Horowitz, First Round Capital, Serena Ventures and others participating. The round brings total funding to about $160 million, after a $55 million Series A in June. Founded by former Plaid CTO Jean-Denis Greze and Tony Vincent, Town gives each worker an assistant called a Townie that connects to email, documents, calendar and core work systems; during this round Town extended Townies from individuals to teams, letting assistants question each other, hand off work, share only what their person would share and ask permission when needed, plus shared team workflows. Town says customers own the context their Townies build and can take it with them, that it does not train models on connected customer data by default, and that it picks models from major AI labs per task; the company also says it reached seven-figure annual recurring revenue within weeks of launching and that paying customers grew fourfold and paying teams ninefold since July.

   The Next Web · 🔥 0
2. Oct 7
   Healthleap raises $38M to expand AI that flags at-risk hospital patients

   Healthleap raised $38 million across an $8 million seed round co-led by Sequoia Capital and First Round Capital and a $30 million Series A led by Hummingbird Ventures; the company did not disclose its valuation. Its platform connects to hospital electronic health records, uses language models to extract clues such as poor appetite or difficulty swallowing from clinical notes, and combines them with labs and vital signs to write nightly risk scores; Healthleap says it is deployed in more than 50 hospitals and that the software flags patients for review rather than diagnosing them. The company also reports that a malnutrition program at the Hospital of the University of Pennsylvania produced $23.8 million in annualized financial impact and that every customer has seen at least 5x hard ROI, figures TechRepublic notes are company-reported and do not establish consistency across hospitals.

   TechCrunch AI · 🔥 0

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