Subscack announced Thursday it raised $100 million in Series C funding led by Bond and Chernin Group (TCG) investors. The round included participation from Andreessen Horowitz of Rich Paul, CEO and Founder of Klutch Sports Group, and Jens Grede, co-founder of Skims.
The New York Times reports that the funding has brought Subscack's valuation to $1.1 billion, nearly 70% higher than its valuation of $650 million in 2021.
Founded in 2017, Subscack is a popular platform for creators and publishers to monetize content. The company said in March it outpaced the 5 million payment subscriptions on the platform, which rose from 2 million in 2023.
In a blog post, Subrack said he will use his funds to invest in “better tools, wider reach and deeper support for writers and creators.” I'm also planning to invest in the Substack app.