Manychat, a global leader in conversational AI and automation across social and messaging platforms, announced a $140 million growth capital raise led by Summit Partners. This brings Manychat’s 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.
Social platforms are the new arena of global commerce, with socially driven commerce projected to surpass $100 billion in the U.S. alone by 2026. Manychat sits at the center of this shift, helping creators and businesses leverage AI and automation to forge stronger and more impactful relationships with their audiences.
Manychat 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, maximize engagement, and unlock monetization potential.
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“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.”
SOURCE: PRNewswire