Tolan snags $30M for its AI companion that helps users navigate life

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Tolan, the AI companion designed to help people manage their daily lives, navigate relationships and emotions, and accomplish their goals, has just expanded its runway with another $30 million in capital.

The startup’s investors in the latest round include Union Square Ventures, Khosla Ventures, and Homebrew, doubling the total amount it has raised to date and pushing its valuation beyond the previous $120 million, according to a new report by Upstarts Media. (The startup didn’t disclose its new valuation, but PitchBook estimates it at more than $268 million, with “medium confidence.”)

Users engage with Tolan’s app through a cartoonish character that’s meant to offer support and help them get through their to-dos.

Tolan generates revenue from its tiered memberships, which are required for full access to all features. The company told Upstarts Media its annual recurring revenue is now in the “double-digit millions.”