Manychat has successfully raised $140 million in growth capital led by Summit Partners to enhance its AI-driven customer engagement solutions and facilitate global expansion. Since its inception in 2015, the platform has garnered a total of $163.3 million in funding and serves over one million businesses worldwide across major social and messaging platforms. The funds will primarily be directed towards R&D, market expansion, and the development of new AI technologies. Manychat aims to solidify its position in the booming social commerce market, projected to exceed $100 billion in the U.S. by 2026.
Manychat's funding will support R&D, market expansion, and AI features, positioning it as a leader in customer engagement within the social commerce market.
Mike Yan emphasizes Manychat's mission to help businesses grow through meaningful customer relationships and intelligent automation.
Summit Partners' Sophia Popova believes Manychat's technology is transforming communication for businesses, enhancing customer interactions with AI-driven solutions.
The social commerce market's growth to over $100 billion by 2026 highlights Manychat's strategic focus on AI and operational efficiency in customer engagement.
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