Botpress raises 34M CAD Series B to scale AI agent infrastructure

Montréal-based Botpress has raised $25 million USD (over $34 million CAD) in a Series B funding round to accelerate its AI infrastructure platform, targeting the rapidly growing market for agentic AI solutions. The round was led by Framework Venture Partners, with participation from Deloitte Ventures, HubSpot Ventures, and existing investors Inovia Capital and Decibel Partners.

Key Highlights:

• Valuation: The funding values Botpress at $120 million USD, more than double its $50 million post-Series A valuation in 2021.
• Pivot to AI Agents: Originally a chatbot platform, Botpress shifted focus post-Series A to building AI agents—autonomous systems powered by large language models (LLMs).
• Infrastructure Layer: The company positions itself as the "infrastructure layer" enabling businesses to deploy AI agents safely, reliably, and at scale.
• Growth Plans: Botpress plans to double its 65-person team, open a European office and data center, and introduce voice capabilities next quarter.

Market Context:

AI agents are software systems that autonomously perform tasks to achieve specific goals. While the technology is hyped, Botpress CEO Sylvain Perron notes that deploying reliable agents requires significant infrastructure—a gap the startup aims to fill.

Business Model:

• Revenue: Botpress monetizes via a usage-based pricing model, similar to WordPress, targeting both agencies and end-users.
• Traction: The company claims 3,000 paying customers, nearly 1 million free users, and quarterly revenue doubling since early 2023.
• Use Cases: Clients include Les Producteurs de lait du Québec (cheese recommendation AI) and Ruby Labs (customer support automation).

Investor Perspective:

• Framework Venture Partners sees "vast demand" for production-grade AI agent platforms.
• Inovia Capital highlights Botpress' "exceptional traction" in a multi-billion-dollar market.

Challenges Ahead:

• Scaling: Botpress must rapidly expand its team and infrastructure to meet "more demand than it can handle."
• Competition: The AI agent space is crowded and fast-evolving, requiring continuous innovation.

Read more about Botpress | Explore AI agent trends

Image: Botpress team (courtesy Botpress)