Funding round
Patreon Series D
Patreon, which works in subscription monetization platform services in United States, raised $60M in a Series D round announced on 16 Jul 2019, led by Glade Brook. 9 firms took part, with 2 individual investors. It is Patreon's fifth venture round on record; the one before was a Series C in Sep 2017.
$60M
Amount raised
Not disclosed
Post-money valuation
9
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 $450M at the Series C (Sep 2017). It came 22 months after Patreon's Series C. It is 15% of the $412M Patreon has raised in the venture rounds on record. Patreon raised again 14 months later: a Series E round of $90M in Sep 2020, at $1.20B 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 19 Jan 2016, led by Thrive Capital $30M
- Series C 14 Sep 2017, led by Thrive Capital $60M$450M post-money
- Series D this round 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
Glade Brook led the round with 8 other firms.
Lead investor
- Glade Brook backs 30 venture-backed companies new investor
Also in the round
- Thrive Capital backs 130 venture-backed companies new investor
- backs 115 venture-backed companies new investor
- Index Ventures backs 353 venture-backed companies new investor
- DFJ Growth backs 51 venture-backed companies new investor
- backs 63 venture-backed companies new investor
- CRV backs 177 venture-backed companies new investor
- Otherwise Fund new investor
- backs 52 venture-backed companies
Individual investors: Serj Tankian and Hannibal Buress.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
109 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 1.2 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Gusto Tech Companies | 24 Jul 2019 | $200M | $3.80B | Fidelity Management & Research and Generation Investment Management |
| Trax Tech Companies | 23 Jul 2019 | $100M | $1.10B | HOPU Investments |
| Tech Companies | 10 Jul 2019 | $70M | not disclosed | Bregal Sagemount |
| Tech Companies | 23 Jul 2019 | $56M | not disclosed | Owl Rock Capital Partners and NextEquity Partners |
| Yanolja Tech Companies | 11 Jun 2019 | $180M | $1.00B | GIC and Booking Holdings |
| ShareChat Tech Companies | 15 Aug 2019 | $100M | $650M | |
| Wellhub Tech Companies | 12 Jun 2019 | $100M | $1.11B | SoftBank |
| Tech Companies | 25 Jun 2019 | $75M | not disclosed | JP Morgan Asset Management |
Sources
Where this comes from
Reported by 5 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 D round?
Patreon raised $60M in its Series D round, announced in Jul 2019.
Who led Patreon's Series D round?
Glade Brook led it, with Thrive Capital, Initialized, Index Ventures, DFJ Growth and Freestyle VC and 3 more.
What was Patreon's valuation at the Series D round?
It was not disclosed; its last disclosed one was $450M at the Series C (Sep 2017).
How does it compare with other Series D rounds in Tech Companies?
109 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 1.2 times the median.
Did Patreon raise again after this round?
Yes: a Series E round in Sep 2020 of $90M at $1.20B post-money.