Manychat bags $140m for AI driven customer engagement on social and messaging platforms

Manychat, a specialist in onversational AI and automation across social and messaging platforms, has announced a $140 million growth capital raise led by Summit Partners.

This brings its 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.

Manychat says that it 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, maximise engagement, and unlock monetisation potential. 

"Manychat was founded with a mission to help businesses grow by building meaningful customer relationships,” says 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."

Manychat, which claims to be a profitable company, will use the funding to accelerate its global expansion, invest further in R&D, enhance marketing and customer support capabilities, and advance AI agent features across new and existing channels.

"We believe the rapid growth in social commerce is driving a critical need for brands to invest in strategies and solutions that help build and sustain customer engagement across social and messaging platforms," says Sophia Popova, Partner at Summit Partners who has joined the Manychat Board of Directors.

"Manychat's innovative platform is helping to redefine how businesses and creators engage with their audiences and to set new standards in digital communication and marketing. We are excited to partner with the Manychat team to help accelerate their global expansion and further enhance their AI driven solutions."

RTIH AI in Retail Awards

RTIH, organiser of the industry leading RTIH Innovation Awards, proudly brings you the first edition of the RTIH AI in Retail Awards, which is now open for entries. 

As we witness a digital transformation revolution across all channels, AI tools are reshaping the omnichannel game, from personalising customer experiences to optimising inventory, uncovering insights into consumer behaviour, and enhancing the human element of retailers' businesses.

With 2025 set to be the year when AI and especially gen AI shake off the ‘heavily hyped’ tag and become embedded in retail business processes, our newly launched awards celebrate global technology innovation in a fast moving omnichannel world and the resulting benefits for retailers, shoppers and employees.

Our 2025 winners will be those companies who not only recognise the potential of AI, but also make it usable in everyday work - resulting in more efficiency and innovation in all areas.

Winners will be announced at an evening event at The Barbican in Central London on Wednesday, 3rd September.

This will kick off with a drinks reception in the stunning Conservatory, followed by a three course meal, and awards ceremony in the Garden Room.

Please email our Editor, Scott Thompson, if you have any questions or need further information: scott.thompson@retailtechinnovationhub.com

Key 2025 dates

Friday, 18th July: Award entry deadline 

Tuesday, 22nd July: 2025 finalists revealed

Wednesday, 23rd July - Friday, 8th August: Judging days

Wednesday, 3rd September: Winners announced at the 2025 RTIH AI in Retail Awards Ceremony, to be held at The Barbican in Central London.