Funding round
Whatnot Series C
Whatnot, which works in live streaming shopping platform services in San Francisco, raised $150M in a Series C round announced on 16 Sep 2021, led by Andreessen Horowitz and Y Combinator’s Continuity Fund, at a $1.50B post-money valuation. 4 firms took part, 3 of them already investors, with 4 individual investors. It is Whatnot's fourth venture round on record; the one before was a Series B in May 2021.
$150M
Amount raised
$1.50B
Post-money valuation
$1.35B pre-money
4
Investors
2 leads
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Whatnot at $1.50B after the new money. The $150M bought investors about 10% of the company. It came 4 months after Whatnot's Series B. It is 9.9% of the $1.52B Whatnot has raised in the venture rounds on record. Whatnot raised again 10 months later: a Series D round of $260M in Jul 2022, at $3.70B post-money.
Whatnot's funding rounds
Whatnot has 8 venture rounds on record. This one is highlighted.
- Seed 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 this round 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
Andreessen Horowitz and Y Combinator’s Continuity Fund led the round with 2 other firms. Andreessen Horowitz, Y Combinator’s Continuity Fund and Y Combinator had backed Whatnot before.
Lead investors
- Andreessen Horowitz backs 722 venture-backed companies existing investor
- Y Combinator’s Continuity Fund existing investor
Also in the round
- CapitalG backs 70 venture-backed companies new investor
- Y Combinator backs 1,295 venture-backed companies existing investor
Individual investors: Andre Iguodala, Logan Paul, Gokul Rajaram and Nilam Ganenthiran.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
500 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 2.4 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| AlphaSense Tech Companies | 30 Sep 2021 | $180M | not disclosed | Viking Global and Goldman Sachs Asset Management |
| Tech Companies | 15 Sep 2021 | $177M | $750M | SoftBank Vision Fund |
| Tech Companies | 22 Sep 2021 | $150M | not disclosed | WestCap |
| Tech Companies | 13 Sep 2021 | $140M | $1.90B | Accel |
| Tech Companies | 13 Sep 2021 | $140M | $1.20B | Insight Partners |
| Tech Companies | 3 Sep 2021 | $130M | $1.00B | SoftBank Vision Fund |
| Tech Companies | 27 Sep 2021 | $122M | $400M | SoftBank Vision Fund |
| Tech Companies | 30 Sep 2021 | $115M | not disclosed | SoftBank Vision Fund |
Sources
Where this comes from
Reported by 6 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Whatnot raise in its Series C round?
Whatnot raised $150M in its Series C round, announced in Sep 2021.
Who led Whatnot's Series C round?
Andreessen Horowitz and Y Combinator’s Continuity Fund led it, with CapitalG and Y Combinator.
What was Whatnot's valuation at the Series C round?
$1.50B post-money ($1.35B pre-money).
How does it compare with other Series C rounds in Tech Companies?
500 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 2.4 times the median.
Did Whatnot raise again after this round?
Yes: a Series D round in Jul 2022 of $260M at $3.70B post-money.