Substack is announced On Thursday, if it has produced $ 100 million funds led by investors in Bond and the Cherin group (TCG). Circipation of the circle consisting of andreesen Horowitz, Kask, the Founders of Grede Sports Klutch, and Jens Grede, the founder and founder of skims.
New York Times Reports that the funding brings the value of subsack for $ 1.1 billion, almost 70% higher than the value of 2021 $ 650 million.
Founded in 2017, the Substack gains popularity as platform for creation and publishers to monetize content. The company said in March exceeds 5 million employee’s subscription On the platform, up to 2 million in 2023.
Substack says the blog posts that will use funding to invest “better tools, reaches more, and deeper support for authors and Creators.” This is also a plan to invest in substacks applications.