Patreon Adds $60M To ‘Take Membership To The Next Level’
Creator subscription platform Patreon has raised an additional $60 million that it says will be used "to take creator memberships to a whole new level." Patreon has more than 3 million active patrons and 100,000 creators on the platform, and has paid out more than $1 billion to date.
This new Series D round was led by late-stage investors Glade Brook Capital, with participation from prior investors Thrive Capital, Initialized, Index Ventures, DFJ, Freestyle Capital, Charles River Ventures, and Otherwise. Also joining the funding round are the first creator/artist investors including Serj Tankian and Hannibal Buress.
The company has now raised a total of $165 million since its founding in 2013. "Patreon fulfills a unique need for creators," according to co-founder Jack Conte, "leveraging the deep, personal connections they’ve fostered with their fans to get them paid for the value of their work. "
The new funds will be used to fuel international growth and more customization.
"supportive troll-free communities"
"Creators across the globe are using Patreon to nurture direct connections with their fans, build supportive troll-free communities, and deliver unique value to patrons," Conte continued. "We’ll support this international growth with new currencies, payment methods, and languages. Additionally, we have started our global expansion with an office in Porto, Portugal and are in the process of exploring other locations so we can best serve creators."
Conte also shared some improvements and new features:
"We’re building better ways for creators to deliver digital benefits like secure audio, video, and image galleries. And we’re making sure those benefits are easy for patrons to find and enjoy wherever they are. To that end, we are rethinking our mobile experience to make connecting with creators and receiving benefits streamlined and convenient. Our new Merch for Membership, which includes full-service fulfillment for creators, will expand faster and further with international shipping and more items to choose from."
"We’ll also be enhancing the connection between creators and patrons. First, we’re making the creator page more customizable so creators can tell their story, their way, and make it easier for their fans to understand what’s unique about their membership program. We’ll also give creators and their patrons better ways to engage, both one on one and as a community."
