Manychat, a leading provider of conversational AI and automation for social and messaging platforms, has announced a $140 million growth capital raise led by Summit Partners. This latest investment brings Manychat’s total funding to $163.3 million since its inception in 2015, including an earlier $18 million round led by Bessemer Venture Partners in 2019.
As social platforms continue to emerge as dominant channels for global commerce—projected to exceed $100 billion in the U.S. alone by 2026—Manychat is enabling creators and businesses to harness AI and automation to build stronger connections with their audiences. The platform facilitates billions of conversations annually across Instagram, TikTok, WhatsApp, Facebook Messenger, and more, serving over one million businesses in more than 170 countries.
“Manychat was founded with a mission to help businesses grow by building meaningful customer relationships,” said Mike Yan, co-founder and CEO of Manychat. “We’re committed to making complex technologies more accessible and impactful for our customers. With this new funding and the strategic guidance from Summit Partners, we’ll continue to innovate in AI-powered automation and intelligent agent technologies that help businesses and creators thrive.”
Already profitable, Manychat plans to use the funding to:
- Expand its global presence
- Invest in research and development
- Strengthen its marketing and customer support operations
- Advance new AI-Agent capabilities across additional channels
In 2024, the company introduced Manychat AI, a cutting-edge tool now leveraged by tens of thousands of businesses to scale customer conversations with precision and ease.
“We believe the rapid growth in social commerce is driving a critical need for brands to invest in engagement strategies that span social and messaging platforms,” said Sophia Popova, Partner at Summit Partners and new member of Manychat’s Board of Directors. “Manychat is setting a new standard in digital communication and marketing. We're excited to support the team’s continued global growth and product evolution.”