Total amount raised
$2.5 Millions
Latest funding date
January, 2016
Location
Manychat has successfully raised significant funding through multiple rounds, with notable investors such as Bessemer Venture Partners and Flint Capital. The platform specializes in automating chat marketing across popular social media channels like Instagram, WhatsApp, and Facebook Messenger.
Keep reading to delve into the details of Manychat's funding journey and the key investors who are backing this innovative chat marketing platform.
What Is Manychat?
Founded in 2015, Manychat is based in San Francisco, California. The company was established by Mikael Yang and has grown to employ between 101 and 250 people.
Manychat specializes in chat marketing automation, helping businesses streamline their marketing, sales, and customer support through platforms like Facebook Messenger, Instagram, and WhatsApp. The platform allows businesses to create chatbots without any coding knowledge, making it accessible for a wide range of users.
With over 100,000 bots powered on Facebook Messenger alone, Manychat has positioned itself as a leader in the chat marketing space, offering tools that enhance customer engagement and drive sales.
How Much Funding Has Manychat Raised?
- Seed Round
- Amount Raised: $125,000
- Date: December 2015
- Lead Investors: 500 Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and launch the business.
- Seed Round
- Amount Raised: $1,000,000
- Date: August 2016
- Lead Investors: Skywell Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Seed Round
- Amount Raised: $4,000,000
- Date: November 2017
- Lead Investors: Flint Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series A
- Amount Raised: $18,000,000
- Date: April 2019
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To hire across various operational roles and support growth.
Total Amount Raised: $23,125,000. Current Valuation: Not publicly disclosed.
Key Investors
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a leading venture capital firm that has been investing in technology companies for over a century. They have a strong track record of supporting early-stage companies.
- Investment Focus Areas: Enterprise software, consumer internet, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Flint Capital
- Details: Flint Capital is a venture capital firm that invests in technology companies at various stages of development. They focus on innovative solutions with high growth potential.
- Investment Focus Areas: Software, cybersecurity, digital health.
- Notable Investments: WalkMe, CyberX, Socure.
- Skywell Capital Partners
- Details: Skywell Capital Partners is a venture capital firm that provides funding to early-stage technology companies. They aim to support businesses with innovative and scalable solutions.
- Investment Focus Areas: Technology, software, digital innovation.
- Notable Investments: Not publicly disclosed.
- 500 Global
- Details: 500 Global, formerly known as 500 Startups, is a venture capital firm that invests in early-stage companies worldwide. They have a diverse portfolio and a strong focus on innovation.
- Investment Focus Areas: Technology, consumer products, digital media.
- Notable Investments: Canva, Credit Karma, Udemy.
What's Next for Manychat?
Manychat stands at the cusp of a significant opportunity, leveraging the global shift towards messaging apps like Facebook Messenger, Instagram, and WhatsApp. With over 2 billion people using these platforms, Manychat's potential for growth is immense. The company already boasts over 1 million registered accounts and facilitates the exchange of 7 billion messages each month, indicating a robust and active user base.
Future fundraising seems likely as Manychat continues to scale its operations and expand into new industries such as e-commerce, education, and retail. The involvement of prominent investors like Bessemer Venture Partners and Flint Capital suggests that additional funding rounds could be on the horizon to support this growth.
However, Manychat will face challenges, including competition from other messaging platforms and the need to keep up with rapid technological changes. Ensuring data privacy and security will also be crucial as the company continues to grow. Despite these hurdles, Manychat's innovative approach to chat marketing positions it well for future success.
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