Substack Raises $100M to Invest in New Tools for Creators & Writers

Substack

Substack raised $100 million in Series C funding, valuing the company at over $1.1 billion. The funds will be used to invest in better tools for creators, expand support for its ecosystem of writers, and “double down” on its app.

Substack also hinted at potentially introducing ads, possibly similar to beehiiv’s Ad Network. If so, it would mark a shift from its original positioning, but wouldn’t be surprising given how much the platform has evolved from a newsletter platform to more of a social network.

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