Substack has raised $195.3M across 6 funding rounds. The latest round valued Substack at $1.1B post-money, with Andreessen Horowitz on the lead line.
Substack raised a $100 million Series C round in July 2025, valuing the company at $1.1 billion, and counts Andreessen Horowitz, BOND and The Chernin Group among the investors backing the newsletter platform.
6 funding rounds, the latest highlighted.
Substack was founded in 2017, United States.
Y Combinator, The Chernin Group, Zhen Fund, Emmett Shear, Justin Waldron.
Rich Miner, Y Combinator. $15.3M raised, led by Andreessen Horowitz.
A16z Scout Fund, AlleyCorp, BAM Ventures, Bling Capital, Eniac Ventures, Nyca Partners, Pitbull Ventures, RRE Ventures, The Finger Group, Tsvc Capital, VU Venture Partners, Zigg Capital, Rich Miner, Steph Korey, Will Szczerbiak. $65M raised, led by Andreessen Horowitz.
A primary round — the company sells new shares to investors it selects. $5M raised.
Accomplice VC, Array Ventures, Stuart Peterson, Gradient Ventures, Kickstart Fund, Prototype Capital, Seven Seven SIX, The HIT Forge, Transformation Capital, Trucks Venture Capital, Doug Hayes, Hari Lakshmanan, Immad Akhund, Siqi Chen. $10M raised.
BOND, The Chernin Group, Skims, Klutch Sports Group. $100M raised, led by Andreessen Horowitz.
No filing has been made.
6 dated rounds, newest first.
Andreessen HorowitzLEADBBONDTThe Chernin GroupSSkimsKKlutch Sports GroupLead investors for each round are in the funding timeline.
The closest newsletter / subscription publishing platform peers are on the competitors page.
The routes section explains what is realistically available for a company at this stage.
No. Substack is a private company; its shares do not trade on a public exchange.
Perpetual markets for stocks, gold, indices and pre-IPO names — settled on-chain, no wallet-to-exchange transfers.
