Funding round
Whatnot Seed
Whatnot, which works in live streaming shopping platform services in San Francisco, raised $4.0M in a Seed round announced on 17 Dec 2020. 6 firms took part. It is Whatnot's first venture round on record.
$4.0M
Amount raised
Not disclosed
Post-money valuation
6
Investors
no lead named
Valuation
What this round says about the price
Whatnot did not disclose a valuation in this round. It is Whatnot's first venture round on record, 1 year after it was founded in 2019. It is under 1% of the $1.52B Whatnot has raised in the venture rounds on record. Whatnot raised again 3 months later: a Series A round of $20M in Mar 2021. Its next priced round, a Series C in Sep 2021, valued it at $1.50B.
Whatnot's funding rounds
Whatnot has 8 venture rounds on record. This one is highlighted.
- Seed this round 17 Dec 2020 $4.0M
- Series A 4 Mar 2021, led by Andreessen Horowitz $20M
- Series B 25 May 2021, led by Y Combinator $50M
- Series C 16 Sep 2021, led by Andreessen Horowitz and Y Combinator’s Continuity Fund $150M$1.50B post-money
- Series D 1 Jul 2022, led by DST Global and CapitalG $260M$3.70B post-money
- Series E 10 Jan 2025, led by Greycroft, DST Global and Avra $265M$4.97B post-money
- Series F 28 Oct 2025, led by DST Global and CapitalG $225M$11.50B post-money
- Series G 10 Aug 2026, led by ICONIQ, Lightspeed Venture Partners and Avra $545M$20.00B post-money
Investors
Who put money in
6 firms took part; no lead investor was named.
Investors
- backs 59 venture-backed companies new investor
- backs 22 venture-backed companies new investor
- backs 79 venture-backed companies new investor
- Y Combinator backs 1,295 venture-backed companies new investor
- backs 227 venture-backed companies new investor
- backs 25 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,741 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $2.8M, and this round was 1.4 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 8 Dec 2020 | $12M | not disclosed | Lightspeed |
| Tech Companies | 19 Dec 2020 | $7.0M | not disclosed | not named |
| Tech Companies | 2 Dec 2020 | $6.7M | not disclosed | Craft Ventures |
| Tech Companies | 2 Dec 2020 | $6.0M | not disclosed | Index Ventures |
| Tech Companies | 1 Dec 2020 | $5.5M | not disclosed | Index Ventures and First Round |
| Tech Companies | 8 Dec 2020 | $5.5M | not disclosed | Andreessen Horowitz |
| Tech Companies | 10 Dec 2020 | $5.0M | not disclosed | Two Sigma Ventures |
| Tech Companies | 10 Dec 2020 | $5.0M | not disclosed | Red Fort Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Whatnot raise in its Seed round?
Whatnot raised $4.0M in its Seed round, announced in Dec 2020.
Which investors took part in Whatnot's Seed round?
Scribble Ventures, Wonder Ventures, Operator Partners, Y Combinator, Liquid 2 and Twenty Two Ventures.
What was Whatnot's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
1,741 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $2.8M, and this round was 1.4 times the median.
Did Whatnot raise again after this round?
Yes: a Series A round in Mar 2021 of $20M.