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Newsletter platform Substack raised $10 million from strategic investors including Omeed Malik and Nate Silver to support product development and enhance content offerings.

Nov 12, 20249 months ago

Amount Raised

$10 Million

San Francisco

Investors

Naval RavikantMark PincusHaroon MokhtarzadaNate SilverOmeed Malik

Description

Substack has quietly raised around $10 million in a funding round involving a diverse range of investors. This latest funding will aid in further product development as the platform enhances its offerings to writers and subscribers.

Company Information

Company

Substack Inc.

Location

111 Sutter St 7th Floor

San Francisco, California, United States

About

Substack lets writers connect with their audience on their own terms and earn money doing it. We make it simple for writers to publish to an email list that they own, get discovered on the web, and charge for subscriptions. More than 500,000 people pay to subscribe to writers across the Substack network, and the top writers make millions of dollars a year. Substack’s model depends on the success of writers using Substack – we only make money when they do. “Substack makes it dead simple to start a newsletter and get paid for it.” – Judd Legum, author of Popular Information "Substack gives me a way to connect with my audience on my own terms.” – Lyz Lenz, author of God Land and Men Yell At Me Make something that matters Great writing is valuable. It respects readers' time, their intelligence, and their trust. It helps us make sense of and change the culture we live in. At Substack, we're building a business model that enables great writing to thrive. Learn more about our opportunity and mission. We are a small but growing team, and there is more to build than we could ever imagine. That’s why we need you. We aim to take pragmatic approaches to problem solving while shipping high-quality products that allow the writing on Substack to take the spotlight. Every person at the company participates in customer support. We do this to build empathy with our users and enable us to build better products. We believe that a diverse team will help us build a product that best serves the needs of a wildly diverse ecosystem of writers. So whatever your background or perspective, we’d welcome your input to help build the best possible version of Substack.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech