News Summary

Substack, the popular platform for creators and publishers to monetize their content, has successfully raised $100 million in a Series C funding round. This investment was led by BOND and The Chernin Group (TCG), with notable participation from Andreessen Horowitz, Rich Paul, CEO and founder of Klutch Sports Group, and Jens Grede, CEO and co-founder of Skims. This new funding elevates Substack’s valuation to $1.1 billion, marking a significant increase from its previous valuation of $650 million in 2021. Founded in 2017, Substack has rapidly gained traction, boasting over 5 million paid subscriptions as of March 2025, up from 2 million in 2023. The company plans to utilize the funds to enhance its tools, expand its reach, and provide deeper support for writers and creators, including further investment in the Substack app.