Livestream marketplace Whatnot has closed a $545 million Series G led by Iconiq, Lightspeed and Avra, valuing the company at $20 billion.
The price tag is more than four times the near-$5 billion valuation from its January 2025 Series E, and nearly double the $11.5 billion mark from last October’s Series F. Total funding since the company’s 2019 founding now sits near $1.5 billion.
Whatnot says it has blown past the $8 billion in gross merchandise volume it recorded last year, that more than 650,000 people join weekly, and that its buyer base has more than doubled in twelve months. The fresh cash will go toward seller tools and new markets.
Founded by Grant LaFontaine and Logan Head, the startup began as a resale app before pivoting to livestream selling in 2020, building its early audience around Funko Pop collectibles. It now claims roughly 60% of a live commerce segment it pegs at over $22 billion, though eBay, Fanatics and TikTok Shop Live are circling.
The raise shows investors still see room in shopping-as-entertainment even as rivals pile in.
