PATREON , the platform with which fans can support content creators via donation, has just announced that it has secured a Series F funding round for $ 155 million , paid by new investor Tiger Global Management, with the participation of Woodline Partners and existing investors Wellington Management, Lone Pine Capital, New Enterprise Associates (NEA), Glade Brook Capital and DFJ Growth .
An important investment that increases its value, now equal to 4 billion dollars , and that comes in conjunction with a continuous global growth of new creator subscribers, for a truly flourishing period for the platform.
Here is the statement from Jack Conte , CEO and co-founder of PATREON :
“When Sam and I started PATREON eight years ago, we were solving an obvious problem: dramatically reducing the gap between the impact creators have on the world and what they get in pay at the end of the month. That world is fast becoming a reality, and the emerging creative class is already climbing their dreams. We started by focusing on content and community enhancement, but in the next decade we intend to build a creator infrastructure capable of supporting a Second Renaissance. “
The platform intends to use the additional funds for the following objectives:
- Accelerate the progress of the initiatives indicated in its announcement of the Series E round, which include a new experiences for creators and for fans improved on both the desktop and mobile versions;
- International expansion ;
- New tools for the use of contents;
- Explore potential acquisitions to expand its talent and product capabilities.
Today PATREON is home to more than 200,000 creators from every category – podcasts, videos, music, visual art, writing and more – who are sharing and monetizing their creations, while cultivating a deeper connection with their most loyal fans. In 2020 it added new languages, currencies, messaging features, merchandise and annual subscriptions, improving the experience for fans on behalf of creators from all over the world. Creators, on the other hand, have seen grow their earnings considerably over the past year on PATREON, and are now earning over $ 100 million a year. month, from 7 million supporters.
PATREON has proven time and time again as a great way to support not only the content creators themselves, but also projects that otherwise would not have seen the light. Since January it is also active in Italian and is engaged in the construction of an internal structure dedicated to the local market, with human resources useful for expansion and growth also on Italian soil.
