Patreon Announces $15 Million Series A Round Led By Index Ventures’ Danny Rimer
Big news today from Patreon, the arts patronage platform, and founder Jack Conte with the announcement of a $15 million Series A round of investment. Patreon has an impressive list of investors, shared below, as well as some "fun" metrics that also impress. In addition, from noon to 3 pm EDT today Patreon is holding a community discussion which should include more about the news.
Patreon, the patronage crowdfunding platform founded by musician and videomaker Jack Conte, with co-founder Sam Yam, has moved well beyond its beginnings featuring YouTube music stars and into the full range of creators Conte originally envisioned.
Today Patreon announced a $15 million Series A round led by Danny Rimer of Index Ventures. The full list of investors:
"Index Ventures, Charles River Ventures, Thrive Capital, Freestyle Capital, Atlas Ventures, SV Angel, UTA, CAA, Alexis Ohanian (cofounder of Reddit), Garry Tan, Aaron Harris, Sam Altman (President of Y Combinator), Joshua Schachter (founder of Delicious), David Marcus (former President of Paypal), Stan Chudnovsky (VP at Paypal), Joshua Reeves (founder of Zenpayroll), and Jenny Haeg (founder of Custom Spaces)"
And here are their impressively "fun metrics":
– Our revenue grew 10x in a five month period.
-13 months ago we launched with 3 creators using the platform. Today we have over 25,000.
-Over 180 new creators are signing up every day.
-We’ve sent over $2 million to our creators"
Oh, yes, they have plans for those funding dollars:
-Build a mobile app, iOS, and Android
-Make our current product clearer, easier, deeper.
-Launch new products to help creators scale their media companies and reward their patrons.
-Hire engineers and build a team of passionate people who want to empower the creative class.
-We’re moving out of our 2 bedroom apartment (11 people currently working there) and into an office.
I have to say this is the best music-related tech news we've had of late. Though Earbits' last minute reprieve ranks highly as well.
Speaking of money, Patreon is hiring and it includes not only tech positions but creator and user support as well.
More:
- Our most popular Upward Spiral podcast ever: Interview With Jack Conte Of Pomplamoose, Talyor Swift, DJZ & More
- Patreon Receives $2.1 Million In Funding, Jack Conte Currently Supported At $6,153 Per Video
- Jack Conte's Patreon Unlocks SuperFan Revenue Streams For Web Stars
Hypebot Senior Contributor Clyde Smith (@fluxresearch) also blogs at DanceLand. Send news about music tech startups and services, DIY music biz and music marketing to: clyde(at)fluxresearch(dot)com.
