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Substack Raises $100M at $1.1B Valuation From Chernin Group, A16z, Skims CEO and Others
Growth StageVenture Capital

Substack Raises $100M at $1.1B Valuation From Chernin Group, A16z, Skims CEO and Others

P
Pulse
•July 17, 2025
P
Pulse•Jul 17, 2025
0

Participants

The Chernin Group

The Chernin Group

investor

SKIMS

SKIMS

investor

Andreessen Horowitz

Andreessen Horowitz

investor

Deal Summary

Substack raised $100M in a growth-stage funding round led by investors including Chernin Group, Andreessen Horowitz and the CEO of Skims, valuing the company at $1.1 billion—about 70% above its 2021 valuation of $650M. The round expands Substack's capital base to support product and growth initiatives.

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