Funding round
Patreon Series B
Patreon, which works in subscription monetization platform services in United States, raised $30M in a Series B round announced on 19 Jan 2016, led by Thrive Capital. 6 firms took part. It is Patreon's third venture round on record; the one before was a Series A in Jun 2014.
$30M
Amount raised
Not disclosed
Post-money valuation
6
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 19 months after Patreon's Series A. It is 7.3% of the $412M Patreon has raised in the venture rounds on record. Patreon raised again 20 months later: a Series C round of $60M in Sep 2017, at $450M post-money.
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 23 Jun 2014, led by Index Ventures $15M
- Series B this round 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
Thrive Capital led the round with 5 other firms.
Lead investor
- Thrive Capital backs 130 venture-backed companies new investor
Also in the round
- Allen and Company new investor
- CRV backs 177 venture-backed companies new investor
- Index Ventures backs 353 venture-backed companies new investor
- backs 102 venture-backed companies new investor
- backs 63 venture-backed companies new investor
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
244 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was 2.0 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 31 Jan 2016 | $50M | not disclosed | 20th Century Fox and The Walt Disney Company |
| Tech Companies | 21 Jan 2016 | $50M | $625M | Fidelity Management and Research Company |
| Tech Companies | 23 Jan 2016 | $40M | not disclosed | not named |
| Lucid Tech Companies | 1 Jan 2016 | $36M | not disclosed | Spectrum Equity |
| Branch Tech Companies | 27 Jan 2016 | $35M | not disclosed | Founders Fund |
| Tech Companies | 12 Jan 2016 | $22M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 27 Jan 2016 | $20M | not disclosed | Scale Venture Partners |
| Tech Companies | 1 Jan 2016 | $20M | not disclosed | Aramco Ventures |
Sources
Where this comes from
Reported by 3 sources. 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 B round?
Patreon raised $30M in its Series B round, announced in Jan 2016.
Who led Patreon's Series B round?
Thrive Capital led it, with Allen and Company, CRV, Index Ventures, Accomplice and Freestyle VC.
What was Patreon's valuation at the Series B round?
It was not disclosed; its last disclosed one was $7.0M at the Seed (Aug 2013).
How does it compare with other Series B rounds in Tech Companies?
244 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was 2.0 times the median.
Did Patreon raise again after this round?
Yes: a Series C round in Sep 2017 of $60M at $450M post-money.