Tolan Raises $30 Million as AI Companion App Tops 250,000 Active Users
Updated
Updated · TechCrunch · Oct 19
Tolan Raises $30 Million as AI Companion App Tops 250,000 Active Users
3 articles · Updated · TechCrunch · Oct 19
Summary
$30 million in new capital has extended Tolan’s runway, doubling its total funding and lifting its valuation above the prior $120 million mark; PitchBook estimates it at more than $268 million.
250,000 active users logged more than 70 million conversations over the past year, helping push annual recurring revenue into the double-digit millions through Tolan’s paid membership tiers.
Union Square Ventures, Khosla Ventures and Homebrew joined the round as Tolan positions itself as a more practical AI companion focused on daily tasks, relationships and emotional support.
That traction stands out in a shaky category where Friend drew ridicule and Character.ai filed for bankruptcy, though Tolan still faces competition from newer AI agents and legal risks around chatbot-based emotional support.