Substack Overview
- Year Founded
-
2017
- Status
-
Private
- Employees
-
100
- Latest Deal Type
-
Later Stage VC
- Investors
-
59
Substack General Information
Description
Operator of a subscription-based publishing platform intended to generate money from newsletter subscriptions. The company's publication accommodates text, audio, and video tools to publish posts directly in subscribers' inboxes without ads to improve client relations, enabling users to start an email newsletter and publish.
Contact Information
Website
www.substack.comCorporate Office
- 548 Market Street
- PMB 72296
- San Francisco, CA 94104
- United States
Corporate Office
- 548 Market Street
- PMB 72296
- San Francisco, CA 94104
- United States
Substack Timeline
Substack Valuation & Funding
| Deal Type | Date | Amount | Raised to Date | Post-Val | Status | Stage |
|---|---|---|---|---|---|---|
| 7. Later Stage VC | 01-Jan-2026 | Completed | Generating Revenue | |||
| 6. Later Stage VC (Series C) | 17-Jul-2025 | Completed | Generating Revenue | |||
| 5. Later Stage VC (Series C) | 12-Nov-2024 | Completed | Generating Revenue | |||
| 4. Later Stage VC (Series B) | 26-Sep-2024 | Completed | Generating Revenue | |||
| 3. Equity Crowdfunding | 20-Apr-2023 | Completed | Generating Revenue | |||
| 2. Early Stage VC (Series A) | 22-Jul-2019 | $19.1M | $19.2M | Completed | Generating Revenue | |
| 1. Accelerator/Incubator | 20-Mar-2018 | $120K | $120K | Completed | Generating Revenue |
Substack Cap Table
| Stock | # of Shares Authorized |
Par Value | Dividend Rate (%) | Original Issue Price |
Liquidation | Liquidation Pref. Multiple |
Conversion Price | % Owned |
|---|---|---|---|---|---|---|---|---|
| Series C | ||||||||
| Series B | ||||||||
| Series A-6 | ||||||||
| Series A-5 | ||||||||
| Series A-4 | ||||||||
| Series A-3 | ||||||||
| Series A-2 | 832,083 | $0.000010 | 6% | $1.2 | $1.2 | 1x | $1.2 | 2.58% |
| Series A-1 | 5,296,751 | $0.000010 | 6% | $2.92 | $2.92 | 1x | $2.92 | 16.44% |
VC Exit Predictor
See how our proprietary methodology utilizes historical data sets to synthesize the likelihood of an acquisition, IPO, or no exit event. Get a detailed look at the calculations behind our predictions.
Opportunity Score
Calculated using Exit Type probabilities, the company’s stage, and PitchBook’s historical returns data.
Exit Type
Evaluates the likelihood of a successful exit for investors, and the most likely exit type.
Substack Comparisons
Industry
Financing
Details
Substack Competitors (5)
One of Substack’s 5 competitors is Beehiiv, a Venture Capital-Backed company based in New York, NY.
| Company Name | Financing Status | Location | Employees | Total Raised | Last Financing Date/Type | Last Financing Amount |
|---|---|---|---|---|---|---|
| Beehiiv | Venture Capital-Backed | New York, NY | ||||
| Flodesk | Corporation | Newark, DE | ||||
| Kit | Venture Capital-Backed | Boise, ID | ||||
| Memberful | Corporate Backed or Acquired | San Francisco, CA | ||||
| Mailchimp | Corporate Backed or Acquired | Atlanta, GA |
Substack Signals
Growth Rate
Growth
Size Multiple
Key Data Points
Similarweb Unique Visitors
Majestic Referring Domains
Substack Investors (59)
| Investor Name | Investor Type | Holding | Investor Since | Participating Rounds |
|---|---|---|---|---|
| E1 Ventures | Venture Capital | Minority | ||
| 1789 Capital Management | Venture Capital | Minority | ||
| Atelier Ventures | Venture Capital | Minority | ||
| Bogaroo | Family Office | Minority | ||
| BOND Capital (San Francisco) | Venture Capital | Minority |
Substack Investments & Acquisitions (8)
Substack’s most recent deal was a Later Stage VC with SuperGaming for . The deal was made on 06-Aug-2025.
| Company Name | Deal Date | Deal Type | Deal Size | Industry | Lead Partner |
|---|---|---|---|---|---|
| SuperGaming | 06-Aug-2025 | Later Stage VC | Entertainment Software | ||
| Muzify | 01-Jul-2025 | Early Stage VC | Entertainment Software | ||
| UpRock | 30-May-2024 | Early Stage VC | Other Financial Services | ||
| Girls' Night In | 30-May-2023 | Merger/Acquisition | Other Services (B2C Non-Financial) | ||
| YEM (Carpinteria) | 30-Sep-2022 | Merger/Acquisition | Media and Information Services (B2B) |
Substack Affiliates
Subsidiaries (1)
| Name | Industry | Location | Year Founded |
|---|---|---|---|
| YEM (Carpinteria) | Carpinteria, CA | 2021 |
Substack FAQs
-
When was Substack founded?
Substack was founded in 2017.
-
Where is Substack headquartered?
Substack is headquartered in San Francisco, CA.
-
What is the size of Substack?
Substack has 100 total employees.
-
What industry is Substack in?
Substack’s primary industry is Publishing.
-
Is Substack a private or public company?
Substack is a Private company.
-
What is Substack’s current revenue?
The current revenue for Substack is .
-
How much funding has Substack raised over time?
Substack has raised $220M.
-
Who are Substack’s investors?
E1 Ventures, 1789 Capital Management, Atelier Ventures, Bogaroo, and BOND Capital (San Francisco) are 5 of 59 investors who have invested in Substack.
-
Who are Substack’s competitors?
Beehiiv, Flodesk, Kit, Memberful, and Mailchimp are competitors of Substack.
Data Transparency
-
Meet our data hygiene team
Discover how our experts ensure you’re getting the most accurate financial data in the industry.
Read more -
How PitchBook sources data
Our data operations team has logged over 3.5 million hours researching, organizing, and integrating the information you need most.
Discover our process
