AI companion startup Tolan has raised $30 million in a new funding round backed by prominent venture firms, bringing its estimated valuation past $268 million.
The platform reports over 250,000 active users and 70 million conversations over the past year under a tiered membership model.
Tolan generates revenue from subscription packages that are required to access all of the app's features. According to the company, active users exceed 250.000, who have had over 70 million conversations in the past year. About 70% of users are women and 40% are parents.
In the broader space of digital AI friends, the landscape is constantly changing. Platforms like Character.ai went bankrupt after their founders returned to Google. At the same time, big companies like Meta are preparing their own similar tools, planning to release an AI assistant with a cute avatar, possibly in the form of a standalone device.
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