Patreon Revenue, Valuation, Funding & Investors

Patreon is valued at $4B as of April 2021, a 50.0x multiple on its last reported $80M revenue.

Last Patreon valuation

$4B

Series F · Apr 2021

Last Patreon funding round

$155M

Series F · Apr 2021

Patreon revenue

$80M

Series F · Apr 2021

Key investors in Patreon

  • Index Ventures
  • CRV
  • Freestyle Capital
  • Thrive Capital
  • DFJ Growth
  • Glade Brook Capital Partners

Patreon Overview

About Patreon

Patreon is a San Francisco-headquartered membership platform empowering over two million creators with recurring fan support. Launched in 2013, it hosts podcasts, videos, art, and music, allowing patrons to fund exclusive content through monthly pledges. The service processes billions in payouts annually, serving artists in gaming, writing, and visual media worldwide.


Founded

2013

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Revenue

$80M (Apr 2021)

Valuation

$4B (Apr 2021)

Patreon Valuation

Patreon is currently valued at $4B, based on its Series F in April 2021.

The $155M round was led by Tiger Global, with participation from Wellington Management, Lone Pine Capital, Glade Brook Capital Partners, New Enterprise Associates, DFJ Growth and 2 other investors.

Patreon's valuation has grown 571x from $7M at its seed round in August 2013 to $4B in April 2021, across 5 priced rounds.

Patreon valuation by funding round

Revenue multiple
Patreon valuation by funding round
DateStageValuationRevenue Multiple
Apr 2021Series F$4B50.0x
Sep 2020Series E$1.2B-
Jul 2019Series D$660M18.9x
Sep 2017Series C$450M56.3x
Aug 2013Seed$7M-

Patreon Revenue

Patreon's latest recorded revenue is $80M, as of its Series F in April 2021. At a $4B valuation, that implies a 50.0x revenue multiple.

Revenue grew from $8M in September 2017 to $80M in April 2021, while the revenue multiple moved from 56.3x to 50.0x.

Patreon revenue by funding round

Patreon revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Apr 2021$80M$4B50.0xSeries F
Jul 2019$35M$660M18.9xSeries D
Sep 2017$8M$450M56.3xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Patreon Funding History

Patreon has raised a total of $413M across 8 funding rounds.

Patreon's first fundraising round was a $2M seed round in August 2013. The most recent completed round was a $155M Series F in April 2021.

Patreon funding rounds

Patreon funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2021Series FTiger Global (lead); Wellington Management; Lone Pine Capital; Glade Brook Capital Partners; New Enterprise Associates; DFJ Growth; Woodline Partners; Domenico Loprieno$155M$4BPatreon is a membership platform that enables content creators such as podcasters, video makers, writers, and artists to earn recurring income from fans through subscriptions, offering rewards and perks. Creators generate earnings via paid memberships, with Patreon taking 8-12% platform fees plus payment processing. By April 2021, Patreon supported over 200,000 creators earning more than $100 million monthly from over seven million patrons, reflecting strong pandemic-driven growth with over 30,000 new creators added in early 2020. In April 2021, Patreon raised $155 million in a Series F round led by Tiger Global Management, achieving a post-money valuation of $4 billion. The funding supported platform expansion amid rising creator payouts, which reached $21.2 million monthly in January 2021 and $23.16 million by July 2021. Patreon's traction included cumulative creator earnings surpassing $1 billion annually by 2020, doubling from 2019, with monthly payouts growing 68% year-over-year to $21.74 million in February 2021. The platform processed payments across categories like podcasts (14.64% of payouts), video, comics, and adult content. Post-round, Patreon continued scaling, crossing $10 billion in lifetime payouts by 2025 with over $2 billion annual payouts to creators and 25 million paid memberships.
Sep 2020Series ENew Enterprise Associates (lead); Wellington Management (lead); Quarry; Lone Pine Capital; Glade Brook Capital Partners$90M$1.2BPatreon is a membership platform enabling creators such as podcasters, video makers, writers, and artists to earn recurring income from fans through subscriptions, one-time purchases, and community features. The company takes 8-12% of creator earnings as fees, with a blended take rate around 8.5%, alongside payment processing charges. It supports hundreds of thousands of active creators and millions of paid memberships, having paid out over $10 billion lifetime to creators by 2025. In 2020, Patreon reported $800 million in annual creator earnings, with monthly payouts rising from $12.77 million in January to $18.56 million in July, reflecting growth during the pandemic as over 30,000 new creators joined in early March. Monthly active patrons reached 6 million that year. The specified February 2020 round with lead investors New Enterprise Associates and Wellington Management, plus Glade Brook Capital Partners, Lone Pine Capital, and Quarry. A later April 2021 Series F raised $155 million at $4 billion valuation with some overlapping investors including Tiger Global lead. Total funding reached about $410 million by 2021. Later traction includes $2 billion annual creator payouts by 2025, 25 million paid memberships, and Sacra-estimated company revenue of $140 million in 2024 rising to $179 million in 2025. Podcasts led with $472 million creator earnings in 2024 from 6.7 million memberships.
Jul 2019Series DGlade Brook Capital Partners (lead); Index Ventures; Hannibal Buress; Initialized Capital; Terrence Rohan; DFJ Growth; Freestyle Capital; Thrive Capital; CRV; Serj Tankian$60M$660MPatreon, a San Francisco-based crowdfunding membership platform founded in 2013 by Jack Conte and Sam Yam, enables over 100,000 creators including podcasters, video creators, musicians, gamers, and illustrators to earn recurring revenue from dedicated fans through tiered memberships. The company takes a cut of each creator’s monthly revenue from fan payments. On July 16, 2019, Patreon raised $60 million in a Series D funding round led by Glade Brook Capital Partners, with participation from existing investors Thrive Capital, Initialized Capital, Index Ventures, DFJ Growth, Freestyle Capital, Charles River Ventures (CRV), and new creator investors like Serj Tankian and Hannibal Buress. This brought Patreon's total funding to $165-166 million. The round supported Patreon's mission to fund the creative class through membership, with plans for international growth, enhanced customization, and advanced tools for Pro and Premium tiers to attract larger creators. In 2018, Patreon reported revenues of $35 million. The platform expected to surpass $500 million in payments processed in 2019 and reach a cumulative $1 billion in payouts to creators since inception, with about 40% of payments international and average monthly fan spend of $12. Patreon had over 3 million patrons supporting creators at the time. Subsequent rounds included a $90 million Series E in 2020 co-led by New Enterprise Associates and Wellington Management, achieving a $1.2 billion valuation and unicorn status, with participation from Glade Brook Capital and others, bringing total funding to about $256 million. Funds were used for international expansion, including interfaces in multiple languages, and improving creator tools to grow patron bases and business value.
Sep 2017Series CAccomplice; Index Ventures; DFJ Growth; Freestyle Capital; Thrive Capital; CRV$59M$450MPatreon is a platform enabling creators to receive recurring payments from fans for exclusive content, positioning itself in the creator economy with a 95% payout rate to creators compared to lower ad revenue shares on YouTube and Facebook. In September 2017, it closed a $60 million Series C round led by Thrive Capital, with participation from Index Ventures and others including Accomplice, CRV, DFJ Growth, and Freestyle Capital, valuing the company at around $450 million post-money. Prior to this, Patreon had raised $47.1 million across earlier rounds, including a $30 million Series B in January 2016 led by Thrive Capital. At the time of the Series C, Patreon had 50,000 creators and 1 million subscribers paying an average of $12 per month, on track to pay out $150 million to creators in 2017 while earning approximately $7.5 million in revenue that year at a 5% take rate, despite doubling in size. The funding aimed to enhance competition with larger platforms by boosting marketing, improving creator tools, and potentially adding revenue streams like event tickets or merchandise sales. This round provided resources to expand Patreon's product suite and awareness, capitalizing on direct fan payments that deliver significantly higher earnings for creators than ad-based models.
Jan 2016Series BThrive Capital (lead); Accomplice; Index Ventures; Freestyle Capital; StartX (Stanford-StartX Fund); Allen & Company; CRV$30M-Patreon raised a $30 million Series B round on January 16, 2016, led by Thrive Capital with participation from Index Ventures and others including Accomplice, Allen & Company, CRV, Freestyle Capital, and StartX. This brought total funding to $47.1 million at that time. The platform enables creators to earn direct subscriptions from fans, positioning it as an early player in the creator economy. By 2017, ahead of its Series C, Patreon had 50,000 creators and 1 million subscribers paying an average of $12 per month, on track to pay out $150 million to creators that year, implying Patreon would earn about $7.5 million despite doubling in size. Investors bet on growth into a major creator monetization platform, competing with ad-based models like YouTube by offering 95% payouts to creators versus 55% ad shares. Later rounds included a $60 million Series C in 2017 at ~$450M valuation with Thrive and Index, a $90M round in 2020 at $1.2B valuation, and a $155M Series F in 2021 at $4B, bringing total funding over $400M. Thrive Capital's 2016 fund, which included this investment, later achieved strong returns like 2.4x DPI as of mid-2025.
Jun 2014Series AIndex Ventures (lead)$15M-Patreon raised $15 million in a Series A funding round on June 23, 2014, led by Danny Rimer of Index Ventures, with 17 angel investors and VCs including Alexis Ohanian, Sam Altman, and David Marcus. The platform, co-founded by musician Jack Conte and Sam Yam, enables subscription-based funding for artists and creators. The company reported 10x revenue growth in the five months prior to the round. Patreon had previously raised $2.1 million in seed funding.
Aug 2013Seed-$2M$7M-
Aug 2013SeedInitialized Capital (lead); Binary Capital; SV Angel; Tyler Willis; Atlas Venture; Freestyle Capital; Rothenberg Ventures; CRV$2M--

Who has invested in Patreon?

25 investors have backed Patreon across its funding rounds, including Index Ventures, CRV, Freestyle Capital, Thrive Capital, DFJ Growth and Glade Brook Capital Partners.

Lead investors include Tiger Global, New Enterprise Associates, Wellington Management, Glade Brook Capital Partners, Thrive Capital and 2 other investors.


Patreon Investors

Investors in Patreon by funding rounds participated
InvestorHQRoundsRoleFirst check
Index VenturesUnited KingdomLondon4LeadJun 2014
Freestyle CapitalUnited StatesUnited States4ParticipantAug 2013
CRVUnited StatesUnited States4ParticipantAug 2013
Glade Brook Capital PartnersUnited StatesGreenwich, CT3LeadJul 2019
DFJ GrowthUnited StatesSan Francisco, CA3ParticipantSep 2017
Thrive CapitalUnited StatesNew York City, NY3LeadJan 2016
AccompliceUnited StatesBoston, MA2ParticipantJan 2016
Wellington ManagementUnited StatesBoston, MA2LeadSep 2020
Lone Pine CapitalUnited StatesGreenwich, CT2ParticipantSep 2020
New Enterprise AssociatesUnited StatesSan Francisco, CA2LeadSep 2020
Initialized CapitalUnited StatesSan Francisco, CA2LeadAug 2013
QuarryUnited StatesSan Francisco, CA1ParticipantSep 2020
Binary CapitalUnited StatesSan Francisco, CA1ParticipantAug 2013

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Acquisitions by Patreon

Patreon has acquired 5 companies to date.

Last acquisition by Patreon was on October 17th 2023. Patreon acquired Moment House for $11M.


Latest Acquisitions by Patreon

Moment House
Clear Talent
Memberful
Kit
Description
-
Clear Talent is a recruitment firm assisting startups with scaling hiring during growth phases. The company sources talent for engineering, sales, and product roles in technology companies. Services include candidate screening, cultural fit assessments, and onboarding support. Based in San Francisco, Clear Talent works with venture-backed firms navigating rapid expansion. The firm maintains a network of professionals experienced in high-growth environments.
Memberful is a membership platform acquired by Patreon in 2020, enabling creators to monetize content via subscriptions on WordPress sites and other CMS. Launched in 2013 from New York, it integrates with Stripe, Mailchimp, and Zapier for audiences building paywalled newsletters and podcasts.
Kit is a San Francisco-headquartered e-commerce supplier of adventure gear, electronics, and outdoor equipment. It curates products like GoPro cameras, hydration packs, GPS devices, energy bars, and first-aid kits for hikers, cyclists, and travelers. Available via kit.co, Kit ships worldwide with customer support through phone, email, and live chat, stocking brands such as Patagonia, Black Diamond, and Suunto for multi-sport enthusiasts.
HQ CountryUnited StatesUnited StatesUnited StatesUnited States
HQ City
-
New York City, NY
Jacksonville, FL
San Francisco, CA
Deal Date17 Oct 202331 Aug 20218 Aug 20185 Jun 2018
Valuation$11Mundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Patreon Competitors

Patreon competitors include listed companies like Saregama India and Viaplay, and private ones like Glance, NewsBreak, Rec Room and Create Music Group.

Public and private companies comparable to Patreon
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GlanceIndiaBangalorePrivate$34M-$1.7B50.0x
NewsBreakUnited StatesSan Francisco, CAPrivate--$1.1B-
Rec RoomUnited StatesSeattle, WAPrivate--$3.5B-
Create Music GroupUnited StatesLos Angeles, CAPrivate--$2.2B-
Saregama IndiaIndiaIndiaPublicly listed$100M$36M$979M8.6x
ViaplaySwedenSwedenPublicly listed$1.8B($40M)$631M0.6x

Patreon Public Comps

Patreon is still privately-owned, but its public comps include RUM Group, Life360, Strive, Grindr, Arashi Vision, NetEase Cloud Music, Meitu, Bilibili, MBC Group and Skyworth Digital.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
RUM Group$101M($78M)39.2x19.4x(50.8x)(70.5x)
Life360$489M$32M6.4x5.0x97.0x25.6x
Strive$4M($21M)878.1x316.5x(149.8x)(64.9x)
Grindr$440M$145M7.0x6.0x21.1x13.8x
Arashi Vision$1.5B$134M3.7x2.6x39.8x52.0x
NetEase Cloud Music$1.2B$244M0.2x0.2x1.2x1.2x
Meitu$575M$137M3.0x2.6x12.5x9.6x
Bilibili$4.5B$464M0.8x0.8x8.3x6.0x

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Common questions about Patreon

When was Patreon founded?Patreon was founded in 2013.
Where is Patreon headquartered?Patreon is headquartered in San Francisco, CA, United States.
Is Patreon publicly listed?No, Patreon is a private, VC-backed company.
What is Patreon's valuation?Patreon was last valued at $4B in its Series F in April 2021.
How much funding has Patreon raised?Patreon has raised $413M across 8 funding rounds.
What was Patreon's last funding round?Patreon's last funding round was a $155M Series F in April 2021, led by Tiger Global.
Who are Patreon's investors?Patreon's investors include Index Ventures, Freestyle Capital, CRV, Glade Brook Capital Partners, DFJ Growth, Thrive Capital, Accomplice, Wellington Management, Lone Pine Capital, New Enterprise Associates and 15 others.
What is Patreon's revenue?Patreon's latest recorded revenue is $80M (April 2021).
What is Patreon's revenue multiple?Patreon's latest valuation implies a 50.0x revenue multiple ($4B valuation on $80M of revenue).
Which companies are comparable to Patreon?Companies comparable to Patreon include Glance, NewsBreak, Rec Room, Create Music Group, Saregama India and Viaplay.
How many companies has Patreon acquired?Patreon has acquired 5 companies, including Moment House, Clear Talent, Memberful, Kit and Subbable.
What was the largest acquisition by Patreon?The $11M acquisition of Moment House in October 2023 is the largest acquisition Patreon has made to date.

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