What Crowdfunding Site Patreon Will Do With That $15M in Funding

http://www.wired.com/2014/06/patreon-series-a-funding/

June 23, 2014
BY GRAEME MCMILLAN

Crowdfunding platform Patreon, which operates more like a subscription service than the more traditional Kickstarters or Indiegogos of the world, announced today it has raised $15 million in funding from 17 angel investors and venture capitalists, including reddit co-founder Alexis Ohanian and a pair of talent agencies.

-----

The influx of cash means Patreon can begin expanding their offerings for the artists, musicians, writers, filmmakers and other creatives who use the service to get income from fans—or “patrons” in the site’s parlance—for their work. Unlike Kickstarter or Indiegogo, which are best used to fund single projects, Patreon allows fans to fund self-employed creatives so that they make work on an ongoing basis. Along with announcing the new funding, the service also launched a new website, and said the new funding will be used to expand the company’s offerings—creating an even broader platform for its users to get backing for their endeavors.

-----

The funding will be used in part to make new hires and move the Patreon team into a new office—the first official office in the company’s history—as well as expand the company’s offerings, including iOS and Android apps and a new “Launch Mode” for artists to help promote new content and ongoing campaigns.