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Patreon, the San Francisco-based platform that helps over 100,000 online content creators manage paid membership communities for their most dedicated fans, has raised $60 million in Series D funding.
Glade Brook Capital, a late-stage fund based in Greenwich, Connecticut, led this round with participation from prior investors like Index Ventures, CRV, Thrive Capital, Initialized, and DFJ Growth. This totals $165 million in funding that Patreon has raised since its founding in 2013.
February - Series - Patreon - Story - Product
In February, I published a 5-part series analyzing Patreon’s founding story, product evolution, business, competition, and overarching vision. The company has prioritized established creators who can generate $1,000+ per month in membership revenue as its core customer and is focused on being the underlying platform they use to manage relationships with superfans through a CRM, payment processing, and gating of exclusive access to content and discussion groups.
It makes money by taking a cut of each creator’s monthly revenue earned from their fans’ Patreon memberships.
Co-Founder - CEO - Jack - Conte - Funds
Co-Founder & CEO Jack Conte tells me the new funds will contribute toward these priorities:
Benefits functionality: integrating with more tech platforms using the Patreon API to ensure only paying members receive access to creators’ exclusive discussion groups on Discord or Discourse, receive special badges that mark them as a patron on Reddit, etc.
Premium - Features - Pro - Premium - Pricing
Premium features: adding more features to the new Pro and Premium pricing tiers it launched in March which provide extra services and functionality to creators in exchange for a higher cut of their membership revenue (8% and 12%–plus payment processing fees–respectively, compared to 5% for the original Lite tier).
Page customization: enabling creators to customize their Patreon pages more by changing colors, layout, and font to fit their own brand.
Patreon - Fulfillment - Merchandise - Creators - Merch
Merchandising: expanding Patreon’s fulfillment of merchandise for creators who offer merch as a reward to their fans who subscribe to a given membership tier by adding international...
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