Crowdfunding firm Patreon turns to VCs for $15m funding round

By Stuart Dredge, US startup launched as a way for YouTubers to make more money, and now has 25,000 creators signed up

US crowdfunding startup Patreon has raised $15m (£8.8m) of Series A funding from backers including venture capital firm Index Ventures, Reddit co-founder Alexis Ohanian and former PayPal president David Marcus.

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The company was founded in 2013 as a way to help YouTube stars augment their income from advertising on Google’s video service with direct donations from fans. It has since attracted more than 25,000 musicians, authors, filmmakers, journalists and other creators to use its platform.

Co-founder Jack Conte is one half of Pomplamoose, a band whose covers, mash-ups and original songs have been watched nearly 100m times on YouTube. “Our mission as a company is to fund and empower the emerging creative class, and this round of financing will help us do exactly that,” said Conte, in a statement.

Read More http://www.theguardian.com/technology/2014/jun/23/crowdfunding-company-patreon-raises-its-own-15m-round

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