Funding round
Patreon Series A
Patreon, which works in subscription monetization platform services in United States, raised $15M in a Series A round announced on 23 Jun 2014, led by Index Ventures. 12 firms took part. It is Patreon's second venture round on record; the one before was a Seed in Aug 2013.
$15M
Amount raised
Not disclosed
Post-money valuation
12
Investors
1 lead
Valuation
What this round says about the price
Patreon did not disclose a valuation in this round; its last disclosed one was $7.0M at the Seed (Aug 2013). It came 10 months after Patreon's Seed. It is 3.6% of the $412M Patreon has raised in the venture rounds on record. Patreon raised again 19 months later: a Series B round of $30M in Jan 2016. Its next priced round, a Series C in Sep 2017, valued it at $450M.
Patreon's funding rounds
Patreon has 7 venture rounds on record. This one is highlighted.
- Seed 1 Aug 2013 $2.1M$7.0M post-money
- Series A this round 23 Jun 2014, led by Index Ventures $15M
- Series B 19 Jan 2016, led by Thrive Capital $30M
- Series C 14 Sep 2017, led by Thrive Capital $60M$450M post-money
- Series D 16 Jul 2019, led by Glade Brook $60M
- Series E 1 Sep 2020, led by New Enterprise Associates and Wellington Management $90M$1.20B post-money
- Series F 26 Aug 2021 $155M$4.00B post-money
Investors
Who put money in
Index Ventures led the round with 11 other firms.
Lead investor
- Index Ventures backs 353 venture-backed companies new investor
Also in the round
- Reddit new investor
- PayPal new investor
- CRV backs 177 venture-backed companies new investor
- Thrive Capital backs 130 venture-backed companies new investor
- backs 63 venture-backed companies new investor
- backs 21 venture-backed companies new investor
- SV Angel backs 293 venture-backed companies new investor
- UTA new investor
- CAA new investor
- Seven Seven Six backs 90 venture-backed companies
- David Marcus
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
287 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $5.5M, and this round was 2.7 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 1 Jun 2014 | $16M | $1.00B | not named |
| Tech Companies | 10 Jun 2014 | $11M | not disclosed | Inspire Ventures |
| Tech Companies | 17 Jun 2014 | $10M | not disclosed | Blumberg Capital and OurCrowd |
| Tech Companies | 10 Jun 2014 | $10M | not disclosed | Norwest |
| Tech Companies | 24 Jun 2014 | $10M | not disclosed | Intel Capital |
| Tech Companies | 24 Jun 2014 | $9.0M | not disclosed | OpenView |
| Tech Companies | 24 Jun 2014 | $4.6M | not disclosed | not named |
| Tech Companies | 11 Jun 2014 | $4.5M | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Patreon raise in its Series A round?
Patreon raised $15M in its Series A round, announced in Jun 2014.
Who led Patreon's Series A round?
Index Ventures led it, with Reddit, PayPal, CRV, Thrive Capital and Freestyle VC and 6 more.
What was Patreon's valuation at the Series A round?
It was not disclosed; its last disclosed one was $7.0M at the Seed (Aug 2013).
How does it compare with other Series A rounds in Tech Companies?
287 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $5.5M, and this round was 2.7 times the median.
Did Patreon raise again after this round?
Yes: a Series B round in Jan 2016 of $30M.