Fast-growing creator platform Substack has announced $100 million in Series C funding, led by investors at BOND and The Chernin Group (TCG), which the platform said it will “put to work serving creators and their communities”. According to the New York Times, this takes the platform’s valuation to $1.1 billion.
In a blog post bylined by co-founder/CEO Chris Best (pictured), co-founder/chief writing officer Hamish McKenzie and co-founder/CTO Jairaj Sethi, Substack said: “We’re living through a time of rapid technological change, one that’s reshaping how we communicate, create, and live. Every leap forward brings both promise and peril. The tools we hoped would uplift and enrich us have too often degraded or dehumanised us instead. But this time of flux also holds tremendous opportunity. A growing number of people are navigating the chaos by choosing independence. Audiences are investing their attention and money in what they value, not just what addicts them. Creators are building livelihoods based on trust, quality, and creative freedom. They know the future belongs to those who build it.”
This funding, said Substack, “is our chance to get behind them. We’ll invest in better tools, broader reach, and deeper support for the writers and creators driving Substack’s ecosystem. Already, hundreds of millions of dollars flow from audiences to creators every year. Millions use the app weekly, and pay for the work they discover.”
Adding some specifics, the platform said: “We’re doubling down on the Substack app, which is designed to help audiences reclaim their attention and connect with the creators they care about. We aim to prove that a media app can be fun and rewarding without melting your brain. An escape from the doomscroll.”
Substack is also building tools “that give superpowers to anyone who has something important to say. Creators face enough challenges without juggling logistics and expenses. Substack should feel like a studio in your pocket—we take care of everything except the hard part: the creative work itself.”
Most importantly, said Substack, “we’re building an economic engine to power this entire cultural ecosystem. Our model is simple: creators make money by serving their communities, and Substack succeeds only when they do. Audiences vote with attention and money for the culture they want, acting as collaborators in shaping a media ecosystem rooted in intention and connection.”
In March 2025, Substack reached 5 million paid subscriptions, up from 2 million in 2023. It claims to be growing fast around the world and will put some of the new funding towards further global expansion: “We’re accelerating our work to bring the platform to new markets, so more people can support the creators they care about.”
