Tolan raises $30 million after surpassing 250,000 active users

Tolan, an AI companion startup designed to help users manage daily life, relationships, emotions and goals, has raised another $30 million, TechCrunch reports. The round includes Union Square Ventures, Khosla Ventures and Homebrew and doubles the company’s total funding; its new valuation was not disclosed, but PitchBook estimates it at more than $268 million with “medium confidence.”

Tolan says it has more than 250,000 active users who held over 70 million conversations in the past year. The company told Upstarts Media that about 70% of its users are women and 40% are parents, while its annual recurring revenue is in the double-digit millions. The app uses tiered memberships for full access to its features, but faces competition from AI agents focused on planning and organization, along with risks tied to providing emotional support through chatbots.