Manychat Secures $140 Million to Advance AI Chat Solutions
As interest in agentic AI and chatbots surges, Manychat recently announced a significant fundraising milestone.
Funding Details
Manychat, based in Palo Alto, California, successfully raised $140 million in growth capital, led by Summit Partners. This investment underscores the rising demand for conversational AI tools designed for business engagement across social and messaging platforms.
“Manychat was founded with a mission to help businesses grow by building meaningful customer relationships,” stated Mike Yan, the co-founder and CEO. He emphasized the company’s dedication to streamlining foundational technologies to enhance customer experience. “This new funding, along with Summit Partners’ guidance and expertise, will support our continued innovation in the realm of agentic AI and intelligent automation,” he added.
Company Overview and Impact
Founded in 2015, Manychat has quickly become a leader in AI communications, reportedly sending billions of messages annually across platforms like Instagram and TikTok for over a million businesses. The funding will expedite the company’s global expansion plans and enhance its research and development efforts, improve marketing and customer support, and advance their AI agent functionalities across existing and new channels.
According to data from Crunchbase, Manychat has now raised a total of $163 million in funding to date, all while maintaining profitability.
The Broader AI Funding Landscape
Investments in AI have dominated venture capital discussions, with the previous quarter alone witnessing $59.6 billion directed toward the sector, as reported by Crunchbase. Notably, AI-driven agents and chatbots are attracting specific interest from investors.
In a recent development, Exaforce secured $75 million in Series A funding, with notable contributions from Khosla Ventures, Mayfield Fund 1, and Thomvest Ventures. The San Jose-based startup focuses on deploying artificial intelligence agents within security operations centers, further illustrating the robust interest in AI solutions across various industries.
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