AI chatbots and automation tools might seem ubiquitous now, but not all platforms are created equal. Some, like Manychat, have quietly carved out a powerful niche by delivering real value to businesses through scalable, conversational automation. The company has just secured a massive $140 million Series B round, led by Summit Partners, to double down on AI and fuel global expansion.
Trusted by Millions, Including Major Brands
Manychat has grown into a trusted messaging tool for over 1.5 million businesses in 170 countries. Its clients range from household names like Nike and the New York Times to smaller creators and emerging startups. CEO Mike Yan shared that the platform processes billions of messages every year across Instagram, TikTok, WhatsApp, Facebook Messenger, and more.
The new funding will be used to bring deeper AI capabilities into the platform and expand the company’s go-to-market efforts. Yan also noted that Manychat has remained close to profitable, describing the company as operating “on the edge of breakeven.”
A Decade of Bootstrapping Before Big Capital
Founded in 2015, Manychat spent its first decade growing largely without major outside funding. Before this round, it had only raised around $23 million, including an $18 million Series A in 2019 led by Bessemer Venture Partners and Flint Capital. While the company isn’t revealing its current valuation, it’s expected to be significantly higher than the $58 million post-money valuation reported after its Series A.
From Telegram Roots to Instagram Domination
Manychat’s story began with Telegram. In 2015, when email was losing its effectiveness as a marketing tool, Yan and co-founder Anton Morin saw untapped potential in messaging apps. They spotted an opportunity when Telegram opened its API, and quickly built a tool allowing businesses to create automated chat flows on the app.
The concept gained enough traction to land the founders in the 500 Startups accelerator program. Things really accelerated when Facebook opened its Messenger API. By 2019, Manychat was reaching 350 million monthly users on Messenger with sky-high engagement rates, including open rates north of 80%.
As other platforms like Instagram and TikTok followed suit with their own APIs, Manychat expanded fast. Today, Instagram is by far the most engaged platform for the company, while Telegram remains active but represents a smaller share of traffic.
Personalization That Drives Action
Even before generative AI became the tech world’s hottest topic, Manychat was focused on building chat experiences that felt personal and actionable. Its no-code platform allowed brands to create automated flows that could engage users in comments, DMs, and links — with the goal of encouraging actions like signing up, purchasing, or requesting more information.
Yan emphasizes that what separates Manychat from today’s GenAI bots is its focus on outcomes. While many chatbots are built to answer questions, Manychat is designed to prompt meaningful interaction and conversion.
Summit Partners Backs Manychat’s Future Vision
Sophia Popova, who led the deal for Summit Partners and is joining the company’s board, says the investment reflects a bigger trend in how businesses are using messaging.
“More commerce is moving into social messaging apps,” Popova explained. “Customers now expect instant, always-on engagement — Manychat delivers on that promise. Unlike many AI chat tools today, this platform actually drives conversation that converts.”
She added that while there are plenty of AI helpdesk solutions, very few platforms are built specifically to sell or engage in a way that feels truly personalized — an edge that Manychat has built over years of iteration.
Racing to Stay Ahead in an AI Arms Race
Still, the landscape is evolving fast. With venture-backed AI startups under pressure to monetize quickly, Manychat knows it can’t afford to stand still. That’s why a significant portion of the new funding will go toward R&D to add more intelligent automation and AI-driven personalization to its platform.
In a world where AI tools are often criticized for being impersonal or ineffective, Manychat is positioning itself as the exception — a platform that empowers businesses to connect with customers in a more authentic, scalable, and results-driven way.
