Patreon, a US-based artist sponsorship platform that counts booking agencies CAA and UTA among its backers, secured $155m in series F funding today, valuing it at $4bn.
Investment firm Tiger Global Management led the round, which included returning investors DFJ Growth, Glade Brook Capital, Lone Pine Capital, New Enterprise Associates, Woodline Partners and Wellington Management. The company has raised $411m in total since it was founded in 2013.
Patreon runs an online service that helps content creators including bloggers, musicians and video makers receive monthly monetary contributions from supporters in exchange of exclusive content.
The company will use the cash to improve its mobile and desktop apps, increase its compensation schemes and expand globally.
New Enterprise Associates and Wellington Management had co-led Patreon’s $90m series E round in September 2020 at a $1.2bn valuation. DFJ Growth, Glade Brook Capital, Index Ventures, Lone Pine Capital and Thrive Capital filled out the investors in that round.
CAA and UTA took part in a $15m series A round for the company in 2014 through their respective corporate venturing arms, CAA Ventures and UTA Ventures, investing alongside Accomplice, CRV, Freestyle Capital, Index Ventures, Otherwise Fund, SV Angel and Thrive Capital.
Allen and Company, Initialized Capital, Rothenberg Ventures and various private investors are also among Patreon’s earlier shareholders.
