Just three months after launching, Patreon Inc. has landed nearly $2.1 million in financing from venture firms and angels.
Freestyle Capital led the venture round, which also included investments from Charles River Ventures, Atlas Venture, Rothenberg Ventures and SV Angel. In addition, the tiny Menlo Park, Calif., startup received angel funding from Reddit Co-Founder Alexis Ohanian, Tyler Willis and Y Combinator Partner Garry Tan.
Founded by musician Jack Conte and serial entrepreneur Sam Yam, Patreon lets fans contribute as little as $1 in order to become patrons of the arts. The site is currently processing about $100,000 of pledges a month on behalf of 2,300 artists who have signed up on Patreon. Although many are musicians, a melange of comic book artists, photographers, game developers, illustrators and video creators have also piled into Patreon's platform to raise money. "We originally had musicians and YouTube creators in mind, but it's become a tool for anybody who's creating stuff," Conte said. "There are all sorts of communities using Patreon that I had no idea existed."