Tolan Raises $30M for AI Life Companion App

Tolan, an AI companion app helping users manage daily life, relationships, and goals, has raised $30 million from Union Square Ventures, Khosla Ventures, and Homebrew, doubling its total funding. Its valuation is estimated at over $268 million by PitchBook. The app has more than 250,000 active users who have logged over 70 million conversations in the past year, with annual recurring revenue in the double-digit millions. Around 70% of users are women and 40% are parents. Tolan faces growing competition from AI agents and legal risks tied to AI-powered emotional support.