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Artist, creatives crowdfunding platform Patreon picks up $15m venture round

25 Jun 2014

film video music art creativeArtist-focused crowdfunding platform Patreon has picked up a $15m financing round led by Index Ventures exec Danny Rimer.

Index Ventures also backed the round alongside investors including Thrive Capital, Freestyle Capital and Charles River Ventures, as well as Reddit cofounder Alexis Ohanian and Paypal vice president Stan Chudnovsky.

Patreon allows fans to give one-off or regular financial backing to creatives in areas such as video and film, comics, computer games and podcasts.

Examples include freelance writer and video producer Matt Lees, who makes videos ranging from critiques and playthroughs of cutting-edge computer games to hilarious comedy rundowns of shows such as A Game of Thrones.

The platform has grown from just three creative 13 months ago to more than 25,000 to date, with more than 180 new creators signing up each day.

Patreon says it has sent more than $2m to its creators since it launched, with $1m of that coming in the last two months alone.

Life sciences and IT-focused Index Ventures held a €400m final close for its latest early-stage fund earlier this month.

The fundraise saw Index outdo the €350m it gathered for its fourth fund just two years ago.

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