Manychat Bags $140m for AI-Driven Customer Engagement
Manycha will use the funding to accelerate its global expansion, invest further in R&D, and advance AI agent features across new and existing channels.
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Manychat, a specialist in conversational AI and automation across social and messaging platforms, has announced a $140 million growth capital raise led by Summit Partners.
This brings its total funding to $163.3 million since its founding in 2015, including its first institutional investment of $18 million in 2019 by Bessemer Venture Partners.
Manychat says that it powers billions of messages annually on Instagram, TikTok, WhatsApp, Facebook Messenger, and other platforms, helping more than a million businesses in 170+ countries automate customer interactions, maximise engagement, and unlock monetisation potential.
“Manychat was founded with a mission to help businesses grow by building meaningful customer relationships,” said Mike Yan, Co-Founder and CEO at Manychat. “We also take pride in our ability to package and simplify new foundational technologies for the benefit of our customers.”
“The more useful and effective our technology becomes, the more our customers can focus on delivering exceptional value in their space. This new funding, along with Summit Partners’ guidance and expertise, will support our continued innovation in the realm of agentic AI and intelligent automation, helping our team and our products deliver true value for businesses and creators around the world.”
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Manychat, which claims to be a profitable company, will use the funding to accelerate its global expansion, invest further in R&D, enhance marketing and customer support capabilities, and advance AI agent features across new and existing channels.
“We believe the rapid growth in social commerce is driving a critical need for brands to invest in strategies and solutions that help build and sustain customer engagement across social and messaging platforms,” said Sophia Popova, Partner at Summit Partners who has joined the Manychat Board of Directors.
“Manychat’s innovative platform is helping to redefine how businesses and creators engage with their audiences and to set new standards in digital communication and marketing. We are excited to partner with the Manychat team to help accelerate their global expansion and further enhance their AI driven solutions.”
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