Patreon lands $15M to crowdfund the arts

By Editor June 23, 2014

Patreon screenshotPatreon, a San Francisco-based funding site for artists, musicians, and other creative people, has landed $15 million in Series A funding. The startup allows individuals to essentially become patrons of the arts via a crowdfunding model. On the other side of the equation, the platform requires patrons to pledge to an artist on a recurring basis for each new work created, presumably allowing the artist to more easily make a living practicing their craft. Investors in the round include reddit co-founder Alexis Ohanian, Y Combinator partner Sam Altman and PayPal president David Marcus.

The company was founded last year by Sam Yam and Jack Conte, and raised $2.1 million in Seed funding last August.