Manychat Raises $140M for Global AI Expansion

Manychat, a conversational AI startup specializing in automating social media interactions for businesses and creators, has raised $140 million in a growth funding round led by Summit Partners. The company, founded in 2015, now serves about 1.5 million customers across 170 countries, including major brands like Nike and the New York Times, as well as smaller businesses and individual creators. Manychat's platform leverages generative AI to handle billions of messages annually across platforms such as Instagram, TikTok, WhatsApp, and Messenger, enabling instant engagement and customer support. The new funding will support global expansion, research and development of advanced AI features, and enhancement of sales, marketing, and support efforts. Notably, Manychat is operating at or near profitability, and its growth reflects the increasing importance of AI-powered messaging tools for brands seeking more direct and efficient customer engagement. This trend aligns with broader investor enthusiasm for AI agents and chatbots, which have attracted significant venture funding across the industry.