# Substack funding rounds and investors

As of 14 Oct 2026, Substack has raised $117.3M across 3 verified rounds on record, plus 1 expected raise not yet closed; latest: $100 million Series C led by Bond Capital and The Chernin Group, announced 17 Jul 2025.

Substack offers a platform for individuals to create and monetize their newsletters, targeting writers and content creators.

Website: https://substack.com  
Headquarters: San Francisco  
Page: https://fireround.dev/companies/substack.com

## Verified rounds

| Announced | Round | Amount | Lead investors | Other investors | Sources |
| --- | --- | --- | --- | --- | --- |
| 2025-07-17 | Series C | $100 million | Bond Capital, The Chernin Group | Andreessen Horowitz, Rich Paul, Jens Grede | [post.substack.com](https://post.substack.com/p/substack-series-c) |
| 2019-07 | Series A | $15.3 million | Andreessen Horowitz | Y Combinator | [techcrunch.com](https://techcrunch.com/2019/07/16/substack-series-a) |
| 2018-05-01 | Seed | $2 million | not stated | The Chernin Group, Fifty Years, Zhen Fund, Garage Capital, Emmett Shear, Justin Waldron | [axios.com](https://www.axios.com/2018/05/01/substack-raises-2-million-newsletters-media) |

Source: Fireround (https://fireround.dev), an open-source funding feed. Each round is checked against the pages listed with it.