Patreon—the online service that allows podcasters, musicians and others to receive financial support from fans—has raised a $90 million round of funding from fans of its own, The Information has learned.
The company recently closed the round at a $1.2 billion pre-money valuation, according to two people familiar with the matter. That is about double the pre-money valuation for the company before a round of funding last year, according to PitchBook, the financial data firm. The venture capital firm NEA is among the new investors in the round, one of the people said.
