A year after its launch, Patreon has experienced considerable growth. The crowdfunding site, which rewards its users for each new piece of content they create, now claims a user base of 25,000 creators and an even large number of active “patrons”. To help facilitate its rapid growth, Patreon has successfully raised a $15 million Series A funding round led by Danny Rimer at Index Ventures.
Patreon runs on a unique model that has proven very attractive to content creators. By rewarding users who dish out new videos, comics, song, and other media on a regular basis, Patreon allows its users to bring in profits that far exceed those from ad revenue. Since the site’s launch in May 2013, its users have collectively earned more than $2 million, with half of that total coming in the past two months alone.
The influx of capital will smooth out Patreon’s growth. Co-founder Jack Conte told Tubefilter that priorities include improved signup flows, new features, timely payments, and bug fixes. He also noted that the platform will soon launch on mobile devices. These tasks will require plenty of new talent, and Conte speculated that the 11-person company may double its staff by the end of the year.
Copy and paste this URL into your WordPress site to embed
Copy and paste this code into your site to embed