Patreon Announces $30 Million Series B Funding Round

For the third time in three years, Patreon has announced a significant funding round. The crowdfunding platform, which assists videomakers, webcomic artists, podcasters, and other creative types through its “patron” system, has announced a $30 million Series B round led by Thrive Capital.

On Patreon, creators encourage their fans to become patrons by asking them to contribute donations that kick in when specific goals are met or after a certain period of time elapses. In the YouTube community, for example, some popular channels bring in thousands of dollars per month thanks to their patrons, and as a result, Patreon has emerged as a viable moneymaking tool for the online video industry’s creative class.

With its new capital, Patreon plans to build more services to help its creative users better interact with their patrons. “Creators are essentially running small media companies and they need tools to be successful,” reads a press release from Patreon. These tools will cover “analytics, better communication tools, better reward management and more.”