Portola

Portola is a technology company that developed Tolan, an AI-powered digital companion. The company was established in 2023 and is based in San Francisco.

Portola was co-founded by CEO Quinten Farmer, CTO Evan Goldschmidt, and President Ajay Mehta. Farmer and Goldschmidt previously worked together at Even, a fintech startup acquired by Walmart in 2022. This background in building and scaling a technology company provided them with the experience to develop and launch Tolan. The founding team, which also includes friends with a long history of collaboration, was assembled to create emotionally resonant and interactive experiences, leveraging the potential of AI in consumer applications.

The company operates in the AI and social software market, targeting a Gen Z audience, particularly women. Its business model centers on its main product, the Tolan app, which is available on iOS. The app soft-launched in late 2024 and gained significant traction, reaching 500,000 downloads shortly after. Revenue is generated through the app, with the company reportedly reaching a $1 million annual recurring revenue (ARR) and projecting $12 million in revenue for the upcoming year. Portola has secured significant venture capital, including a $10 million seed round in February 2025 and a $20 million Series A round in July 2025.

Tolan is presented as a collection of colorful, animated alien creatures designed to be virtual best friends. Users are matched with a companion through a personality interview, creating a personalized experience. The AI companion is designed to be a non-romantic, supportive figure, akin to a cool older sibling. It engages in conversational companionship on a wide range of topics, from daily decisions like what to eat or wear to helping with studying. A key feature is its image recognition capability, allowing it to interact with the user's physical world by discussing things like fashion choices or the contents of a refrigerator. Portola aims to provide a healthier form of AI companionship by encouraging real-world activities and relationships, addressing feelings of overwhelm and loneliness without fostering unhealthy dependency.

Keywords: AI companion, virtual friend, mobile app, conversational AI, mental wellness, Gen Z, social software, personalization, character AI, image recognition, Quinten Farmer, Evan Goldschmidt, Ajay Mehta, venture capital, iOS app, subscription model, artificial intelligence, emotional support, interactive experience, digital pet