Patreon Triples Valuation to $4 Billion in Funding Led by Tiger

More than 200,000 artists and entertainers use Patreon to connect with and raise money from fans. That momentum has helped Patreon Inc. raise some money of its own.

A new investment in Patreon valued the business at $4 billion, the company said Wednesday. The valuation is more than triple what it was six months ago, and the latest financing brought in $155 million for the company.

The round was led by Tiger Global Management, according to the Wall Street Journal, which first reported on it.

Patreon was founded in 2013 during a boom in crowdfunding. Artists and businesses were ...