Patreon is now valued at $4bn after elevating $155m in newest funding spherical

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San Francisco-based crowdfunding / membership platform Patreon has just raised $ 155 million in Series F funding and raised its valuation to $ 4 billion.

Patreon (with which artists offer exclusive content) previously raised $ 90 million in September 2020 and valued the company at $ 1.2 billion.

According to Patreon, its 200,000 creators in podcasts, videos, music, visual arts, writing, and more make over $ 100 million per month from 7 million customers.

Patreon’s developers have made more than $ 2 billion since the company was founded in 2013.

The investment round was led by the new investor Tiger Global Management with the participation of Woodline Partners and the existing investors Wellington Management, Lone Pine Capital, New Enterprise Associates (NEA), Glade Brook Capital and DFJ Growth.

Patreon plans to use the additional funds to accelerate its progress on initiatives including improved creator and fan experiences on desktop and mobile devices, international expansion, and new content consumption tools.

The funding also allows Patreon to review potential acquisitions to further expand its talent and product capabilities.

In 2020, Patreon added new languages, currencies, messaging capabilities, merchandise, and annual memberships.

The platform announced in May that over 70,000 new developers had started on the platform since mid-March.

During this time, Patreon saw the number of starting musicians increase by 150% and the number of starting video artists by 57%.

“We’re starting with content and community functions, but over the next ten years we want to build the creator infrastructure that supports a second renaissance.”

Jack Conte, Patreon

Jack Conte, CEO and Co-Founder of Patreon, said, “When Sam and I started Patreon eight years ago, we solved one clear problem: closing the gap between the creators’ impact on the world and their paychecks at the end of the month.

“This world is quickly becoming a reality and the emerging creative class is already scaling their dreams.

“We’re starting with content and community functions, but over the next ten years we want to build the creator infrastructure that supports a second renaissance.”

“We believe Patreon can be a transformative, culture-defining company and we look forward to working with them.”

Evan Feinberg, Tiger Global Management

Evan Feinberg, Partner at Tiger Global Management, said, “The world is moving towards a creative economy of which Patreon is longtime champion, and the opportunity for the team to continue that movement is significant.

“We believe Patreon can be a transformative, culture-defining company and we look forward to working with them.”

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