Patreon Raises $15 Million to Continue Helping Creators Find Funding
Since launching just over a year ago in May 2013, Patreon has gained thousands of creators, from three at its launch to a current 26,000. In order to keep up with the number of creators it supports, the crowdfunding site has raised $15 million.
Lead investor at Patreon, Danny Rimer of Index Ventures, headed the Series A funding round. Patreon’s investors now include Alexis Ohanian, the co-founder of Reddit, and David Marcus, the former PayPal president. PayPal’s current vice president also invests, along with Joshua Schachter, the founder of Delicious.
The new capital will be used toward building a mobile app, move to a new office, make additional hires, and otherwise improve its services for its creator base, the company said. Right now, Patreon claims that 180 new creators come to the site each day, joining the thousands of others who are already active on the site.
Jack Conte, Patreon’s co-founder alongside Sam Yam, said that he will also use the new investor capital to release a series of podcast conversations between the creators, investors, patrons, and employees at Patreon, to “open up an ongoing dialogue between all the parties that have a vested interest in Patreon’s success.” Jack Conte also makes up half of the YouTube sensation Pomplamoose.
Since the site was launched in May 2013, Patreon has provided over $2 million to creators. In August 2013, the company raised $2.1 million.Tags: crowdfunding site, danny rimmer, etsy, fundraising series, index ventures, Jack Conte, Patreon, sam yam, soundcloud, twitch