Substack
A subscription network for independent writers and creators.
Media
📍 San Francisco, CA
Founded 2017
Current Valuation
$1.1B
as of 2025-Q3
UNICORN
Substack is a digital publishing platform that enables independent writers and creators to launch, distribute, and monetize subscription newsletters. It provides integrated tools for payments, analytics, and social discovery to help creators build sustainable media businesses.
Company Profile
Growth
Up 23% in 2024; projected reaching $45M ARR in 2025.
Last Round
Series C — $100M (Jul 2025) · Lead: BOND
Fundraising Status
Series C · $100M · 1y ago
privateTotal raised $190M
Latest Funding Round
| Round | Amount | Date | Lead Investor | Post-Money |
|---|
| Series C | $100M | Jul 2025 | BOND | — |
Founders & Key People
Chris BestHamish McKenzieJairaj Sethi
Investors
a16z · Y Combinator · Skip Capital · BOND · TCG Ventures · Index Ventures · Fifty Years · NewView Capital
Products
- Substack Newsletters
- Substack Notes
- Substack Chat
- Substack Video
- Podcasts
- Substack App
Competitors
Beehiiv · Ghost · Patreon · Medium · Kit
Creator EconomyPublishingNewslettersSubscriptionsSocial Media
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2025-Q3. Refreshed quarterly.