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Patreon Raises Additional $30M

SAN FRANCISCO, CA (Hypebot) – Kickstarter virtually created mainstream crowdfunding and PledgeMusic refined it for musicians. But Patreon has taken a decidedly different approach to helping fans fund undervalued musicians and other creators by championing and facilitating ongoing patronage.

Patreon, the Jack Conte cofounded fan patronage platform for musicians, YouTubers, podcasters and other creators today announced an additional $30 million in venture capital in a series B round.

The round was led by Thrive Capital with participation from Allen and Company and follow on investments by Charles River Ventures, Index Ventures, Accomplice and Freestyle Capital. Previously Patreon had raised $17.1 million in two rounds.

Just like old-school patronage, Patreon enables fans and sponsors to support artists and creators. Patrons pledge to support artists and creators on a reoccurring basis for each work created. With the new funding, Patreon says they will build more tools that creators need including analytics, communication tools and reward management.

Patreon By The Numbers

  • Over 17,000 creators in 15 categories
  • 50+ employees
  • Creators on Patreon generally double the amount they make every year
  • Some creators are making as much as $500,000 per year