Patreon, a San Francisco, CA-based provider of a platform for creators to earn money from fans through subscriptions, raised $90m in Series E funding.
The round, which brought total funding raised to date to $255m and the valuation to $1.2 billion, was co-led by New Enterprise Associates and Wellington Management with participation from new investor Lone Pine and existing backer Gladebrook Capital.
The company intends to use the funds to expand internationally and continue to enhance the user experience and develop tools for creators and their fans.
Led by CEO Jack Conte, Patreon is a creator-founded membership platform that allows creators including video makers, podcasters, musicians, writers, game developers, and others to earn through ongoing financial support.
Today, the platform has more than 200k creators who have collectively earned approx. $2 billion from their fans to date. Approx. 6 million subscribers are currently using it.