News Summary

Manychat, a leading startup in conversational AI and automation, has successfully raised $140 million in a growth capital round led by Summit Partners, with participation from Bessemer Venture Partners. The funding will be used to integrate more AI capabilities, enhance product research and development, and expand globally across social messaging platforms like Instagram, TikTok, WhatsApp, and Messenger. Since its founding in 2015, Manychat has grown significantly, now serving over 1.5 million customers, including major brands like Nike and the New York Times. The company aims to improve its engagement tools to better convert interactions into revenue, setting it apart from other AI chatbots. This strategic move positions Manychat to capitalize on the increasing trend of commerce being conducted through social messaging apps.