Whatnot has closed a $545 million Series G funding round at a $20 billion valuation, Greycroft investor Marcie Vu disclosed in an August 7 blog post reflecting on the firm’s investment thesis in the livestream shopping marketplace. The figure confirms a raise Business Insider reported was in discussion in late July, when sources familiar with the talks said the round would value the company at roughly $20 billion.

The new valuation nearly doubles the $11.5 billion Whatnot reached in its October 2025 Series F, a $225 million round co-led by DST Global and CapitalG. That round brought the company’s total funding to approximately $968 million before the Series G. Greycroft co-led Whatnot’s Series E in January 2025.

Vu pointed to accelerating growth as the case for the markup. “Halfway through 2026, the company had already surpassed its total 2025 GMV, its buyer base had more than doubled over the prior year, and more than 650,000 people were joining the platform every week,” Vu wrote. In June, Whatnot said sellers had processed one billion cumulative orders since the company’s 2019 founding as a Funko Pop marketplace.

The seller base has grown alongside that volume. According to the blog post, one in eight sellers now builds a full-time business on Whatnot, and the number of sellers surpassing $1 million in lifetime sales has more than doubled over the past year. Vu cited Invicta Stores, the retail outlet for Invicta Watch Group, which she said has expanded from a single Whatnot account to four dedicated live-selling channels broadcasting more than 50 hours a day.

Whatnot has also been building out its AI capabilities, recently bringing on the team from Shaped, a machine-learning company focused on recommendation systems, search and personalization. Vu wrote that the company’s approach has been to apply AI to remove friction in discovery and seller logistics while keeping “the human parts human,” including live interaction and community building.

Whatnot co-founder and CEO Grant LaFontaine described the company’s ambitions at Greycroft’s annual general meeting last November: “We think it’s going to be across every country, we think it’s going to be across every category, and we want to be the biggest, the best.”

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