Town Hit a $1B Valuation Four Months After Launch
Update, Oct. 20: the term-sheet story the funding round left out One detail cut from our original write-up can now be printed: Index Ventures had signed a term sheet to LEAD this Series B, then withdrew in September after Instinct — a rival AI-assistant startup in Index's own portfolio — raised a conflict-of-interest concern. Our Sources note flagged the claim as single low-tier sourcing and excluded it; it is now corroborated by Crypto Briefing's Oct. 19 coverage of the round (which repeats the TechCrunch reporting: term sheet signed, September withdrawal, Instinct conflict). Two outlets, same facts — in it goes. It is also the most human part of the story: even a $1B round nearly died in a fund's own portfolio conflict. Forerunner and Menlo picked up the co-lead slots Index vacated. The bet on workplace agents has believers inside the labs too — Anthropic's own agents now outwork its human staff , which is the direction of travel the Townies are counting on. Not eve...