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Who invested in Substack

One round we have observed, with the investors the report named. Every figure below came from a named source, and where the company reported the raise to the SEC itself, that is shown beside it.

1
rounds observed
5
investors named
$100M
reported across those rounds
Jul 2025
most recent

The rounds

Series C · Jul 2025 · $100M

BOND lead, The Chernin Group (TCG) lead, Andreessen Horowitz, Jens Grede, Rich Paul

Reported by TechCrunch

Everyone who backed them

Missing a round, or an investor who was in one? Tell us.