Substack has raised $100 million in Series C funding led by BOND and The Chernin Group, with participation from notable investors. This funding round brings the company's valuation to $1.1 billion, a significant increase from its previous valuation of $650 million in 2021. Founded in 2017, Substack has also seen a growth in paid subscriptions, surpassing 5 million, which is a notable jump from 2 million in 2023. The funding will be used to improve tools, extend outreach, and support for creators, along with developing the Substack app.
Substack announced a $100 million Series C funding round led by BOND and The Chernin Group, raising its valuation to $1.1 billion.
Founded in 2017, Substack surpassed 5 million paid subscriptions, a significant increase from 2 million in 2023.
The company intends to use the funding to enhance tools, expand reach, and provide deeper support for writers and creators, including investing in the Substack app.
The latest funding round reflects a 70% increase in Substack's valuation since 2021, when it was valued at $650 million.
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