A live-streaming e-commerce startup that started in a Phoenix garage has raised half a billion dollars in capital, pushing its valuation to nearly $20 billion as the company eyes international expansion.

Whatnot on Aug. 6 said it closed a $545 million series G round led by ICONIQ, Lightspeed and Avra with participation from several new and existing investors including Kleiner Perkins, Wellington Management, Robinhood Ventures Fund I, Y Combinator and Andreessen Horowitz, among others.

Whatnot is using the new infusion of capital to scale its AI-powered tools for sellers on its platform and expand internationally, according to the company.

Read more of this story from the Business Journal.

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