Patreon Valuation Climbs to $1.2 Billion With Series E Round

San Francisco, CA – October 13, 2020 – Cooley advised creator platform Patreon on its $90 million Series E financing round, which brings the company’s valuation to more than $1.2 billion. Craig Jacoby and Daniel Parames led the Cooley team advising Patreon on the funding.

New Enterprise Associates and Wellington Management co-led the round, which also included participation by Lone Pine and Gladebrook Capital. Patreon plans to use the new capital to grow its international presence, enhance the patron experience and help creators grow their audience with search discovery tools.

“This is a big moment for creativity. The stigma of the starving artist is going to fade away,” Jack Conte, Patreon's CEO, said in a video about the round. “This level of belief in Patreon is proof, it’s proof that the world is changing, the world is different than it was seven years ago. It is now possible to be an independent, financially viable, creative business on the web and be killin’ it.”

San Francisco-based Patreon enables creators to be paid for the content they produce while giving fans access to join their favorite creator’s community. The company has grown to more than 200,000 creators supported by 6 million+ fans.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has 1,100+ lawyers across 16 offices in the United States, Asia and Europe.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.