Tolan, an AI companion app that helps users manage daily life, relationships, and goals, has raised $30 million. Investors include Union Square Ventures, Khosla Ventures, and Homebrew. The round doubles the total the startup has raised and lifts its valuation above the previous $120 million. Tolan did not disclose the new figure. The company says annual recurring revenue is in the "double-digit millions," driven by tiered memberships. It claims more than 250,000 active users, who held over 70 million conversations in the past year. Competition may grow from AI agents that plan and carry out tasks. Tolan also faces risks in offering emotional support, as lawsuits allege chatbot interactions contributed to suicides.

Portola, the startup behind AI companionship app Tolan, raised $20 million in a Series A round led by Khosla Ventures. Launched in February, Tolan has over 3 million downloads and 100,000 paid users, generating over $1 million per month. The app offers personalized AI companions and aims to impact users' real-world relationships. Tolan is monetized via subscriptions, with a free version launching soon. Portola previously raised $10 million in a seed round and employs 12 people.