Whatnot has raised $545 million in Series G funding at a $20 billion valuation to accelerate the expansion of its live shopping marketplace and provide additional tools, services and buyer acquisition support for sellers. The round was led by ICONIQ, Lightspeed and Avra and included a mix of new and returning investors. New investors included Kleiner Perkins, Wellington Management and Standard Capital, the new investment firm founded by former Y Combinator partner Dalton Caldwell. Returning investors included Andreessen Horowitz, Bond, DST Global, Greycroft, Y Combinator and Alphabet’s CapitalG.
Whatnot described the Series G as the largest funding round to date in the live shopping sector. The company plans to direct the capital toward helping sellers grow their businesses, attracting more buyers to the platform, expanding into additional categories and markets, strengthening trust and safety, and developing new technology, including AI-assisted tools.
The financing comes as Whatnot reports significant growth in seller activity. Halfway through 2026, sellers on the platform had already generated more sales than they did during all of 2025.
Whatnot also said more than 650,000 people are joining the platform every week.
Over the past year, the number of Whatnot sellers who have surpassed $1 million in lifetime sales has more than doubled. The share of sellers earning what the company characterizes as a full-time living through the platform has also increased by 25%.
Whatnot was built around live commerce, where sellers broadcast live video sessions to demonstrate and sell products while interacting directly with prospective buyers.
The company said many sellers have used the marketplace to transform side businesses, collecting hobbies and resale operations into full-time companies with employees, dedicated facilities and larger customer bases.
Whatnot plans to use a portion of the Series G financing for marketing designed to introduce live shopping to consumers who have not previously used the format.
The company is also increasing its investment in marketplace trust. Whatnot views buyer confidence as important to converting first-time customers into repeat purchasers and supporting the long-term growth of seller businesses.
Additional capital will be used to launch more product categories and expand Whatnot into new geographic markets.
Technology development is another major area of investment. Whatnot plans to build AI-assisted tools designed to automate administrative and repetitive tasks for sellers, allowing them to spend more time hosting live shows, sharing product expertise and interacting with their communities.
The company said its growth continues to be driven by small businesses and individual entrepreneurs who use live commerce as an alternative or complement to traditional e-commerce channels.
The Series G represents Whatnot’s largest financing to date and adds backing from several of the technology and growth investment industry’s most prominent firms as the company continues scaling its marketplace.
KEY QUOTE:
“The funding goes toward supporting the businesses building on Whatnot. We’re bringing more buyers to your shows through marketing that introduces live shopping to people who’ve never tried it.”
“We’re opening new categories, bringing Whatnot to new markets, and building tools, including AI-assisted ones, that handle the busywork so you can focus on what only you can do: go live, share what you know, and build a community.”
The Whatnot Team
