Substack has raised $100 million in funding as the newsletter platform continues to position itself as a place for journalists and creators to retain independence.

The funding, which is the companys series C round, was led by investors at technology investment firm BOND and Peter Chernins The Chernin Group. Other participants include VC firm Andreessen Horowitz; Rich Paul, CEO and founder of Klutch Sports Group; and Jens Grede, CEO and co-founder of Skims, the apparel company co-founded by Kim Kardashian.

The round values Substack at $1.1 billion and brings its total funding to date to about $200 million. The funding comes as Substack has been doing outreach to journalists, as well as creators nervous about the TikTok ban. Four months ago, the platform hit more than five million paid subscriptions, up from four million in November 2024.

In announcing the funding, Substack co-founders Chris Best, Hamish McKenzie, and Jairaj Sethi, also took aim at technology and online platforms, without naming specifics.

Were living through a time of rapid technological change, one thats 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 dehumanized us instead. Now, as powerful new technologies emerge daily, they arrive freighted with both hope and anxiety. The challenges ahead are real, the post reads.

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, the post continues.