ManyChat ensures $140 million to scale AI-powered customer engagement on social platforms
ManyChat, a conversational AI platform, has raised $140 million in growth capital to accelerate its global expansion and enhance its AI-powered solutions for customer engagement.
The round, led by growth equity firm Summit Partners, has reached $163 million in total since its inception in 2015.
ManyChat provides over a million enterprise automation in over 170 countries and personalizes conversations with customers on major social and messaging platforms including Instagram, Tiktok, WhatsApp and Facebook Messenger. The company has the power of billions of news every year and is increasingly positioning itself at the heart of a booming social commercial market that is expected to exceed $100 billion in the U.S. by 2026.
“Manychat was founded as a mission to help the business grow by building meaningful customer relationships,” said Mike Yan, co-founder and CEO. “With this funding and the strategic support of Summit partners, we doubled down on AI and smart automation to bring more value to businesses and creators around the world.”
The latest round will support Manychat's continued investment in R&D, global listing expansion, enhanced customer support, and further development of its new Agesic AI capabilities. Earlier this year, the company launched Manychat AI, a tool that tens of thousands of businesses have used to scale customer conversations and improve conversions with intelligent automation.
Despite the rapid growth, Manychat is profitable – the rarity of fast-scaling technology platforms. The company’s advantage is that it can simplify and operate fundamental technologies such as Generative AI, allowing brands to better engage audiences and maximize monetization opportunities.
Sophia Popova, a summit partner, joined the Manychat board as part of the investment, said: “Mandochet’s platform is redefining how businesses and creators communicate with audiences in the age of social trade. The rise of messaging and social platforms as key consumer touchpoints is no longer optional – our next chapter.
As digital commerce continues to shift towards more conversations and platform-local experiences, Manchart’s new funding positions it as a new era of smart, scalable customer engagement.
