AI companion startup Tolan raises $30 million

Tolan has raised another $30 million from investors including Union Square Ventures, Khosla Ventures and Homebrew, TechCrunch reported, citing Upstarts Media. The round doubles the AI companion startup's total funding; its new valuation was not disclosed. The app uses a cartoon character to help users manage tasks, relationships and emotions, with paid memberships required for full access. Tolan told Upstarts Media that annual recurring revenue has reached the "double-digit millions" and claimed more than 250,000 active users. The business also faces competition from AI agents that can carry out tasks rather than only discuss them.