Business · Updated 20 Oct, 12:30 am IST
Tolan raises $30M for its AI companion app
Why it matters for readers: Explains that a popular AI companion app just raised money and reports large user engagement.
- Tolan raised $30 million in its latest funding round, which the company says expands its runway.1
- Investors in the round include Union Square Ventures, Khosla Ventures and Homebrew.1
- The new capital doubled the total raised to date and comes after a previously reported valuation above $120 million; PitchBook estimates it now at more than $268 million.1
- Tolan says its annual recurring revenue is in the 'double-digit millions' and it uses tiered memberships for full feature access.1
- The app reports over 250,000 active users, 70 million conversations in the past year, with roughly 70% of users being women and 40% parents.1
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