New York, October 21 /PRNewswire/ -- Whop, a technology company dedicated to providing sustainable income for everyone, today announced the completion of a $200 million Series D round, bringing its post-money valuation to $5.1 billion, led by Sequoia and Shopify Ventures. The new funds will accelerate Whop’s global expansion and research and development efforts to make payment and advertising markets “significantly more efficient.”
This round marks Whop’s second funding round this year. In February, the company announced a $200 million strategic investment from Tether, at which time its valuation was $1.6 billion.
Work is undergoing fundamental changes, and AI is challenging traditional career paths. Entry-level job opportunities are at historic lows (Forbes). For a generation starting out at a disadvantage, Whop is a way to take control of your economic future.
Whop's core customers are business operators, ranging from product leads at high-growth startups to 16-year-old first-time entrepreneurs. Whop provides business operators with a gamified interface and extensive APIs to support distribution, business creation, and fund transfers.
Whop states that approximately 25,000 business operators generate $550 million in monthly revenue on Whop. Whop also provides income to over 50,000 other individuals who deliver value to these businesses each month.
Steven Schwartz, co-founder and CEO of Whop, said: "When designing Whop, we drew inspiration from the traditional economy, as businesses are the primary channels through which people earn money and create value, so we made businesses our core customers."
He noted that most businesses on Whop serve highly niche customer needs rather than broad, mass-market products. The internet enables businesses to reach markets that were previously too niche or fragmented to build a business around. Native businesses built on Whop include invoicing software for trucking companies, emergency tree removal services, a private jet booking platform, digital banking for dropshippers, and a marketplace providing data to humanoid robotics companies.
Sequoia Capital partner Doug Leone said: "They have revenues of about $500 million and are doing great business; we are helping humanity create businesses for those who cannot find jobs."
Over the past three months, Whop has launched the following products:
- Business Blueprints: Helps new operators launch a ready-to-sell business with just a few clicks. Since its launch six weeks ago, over 21,000 businesses have been created using Blueprints.
- Whop CLI: Launched in July, it makes Whop’s API compatible with any AI agent and allows operators to run businesses via prompts. Combined, the Whop CLI and MCP connectors receive over 350,000 calls daily and serve more than 14,700 monthly active users.
- Economic Intelligence: A decision engine trained on millions of transactions that recommends the highest-return-next-step actions for each business. To use Economic Intelligence, businesses pay the platform an additional percentage of the revenue generated through the system.
Whop is headquartered in Palo Alto, California, has an office in New York, and is currently hiring for roles in engineering, product, sales, and operations.
About Whop
Whop is a technology company dedicated to providing sustainable income for everyone. Our vision is to build the world’s largest internet marketplace, enabling anyone to pursue more profitable and fulfilling livelihoods. Whop offers entrepreneurs a gamified graphical interface and a comprehensive API suite to support distribution, business creation, and fund transfers. Today, Whop facilitates over $7 billion in transactions on its platform, serving users in 185 countries. Learn more at whop.com.
Media contact
SOURCE Whop