Substack prances to 'unicorn' status on fund raising

Substack prances to "unicorn" status after fund raise. (Image: Bloomberg)

Fri, 18 Jul 2025

Icehouse Ventures has invested $5 million in the New Zealand-founded Substack, based on its assessment of strong future growth prospects, which has helped vault the newsletter platform to a valuation of more than US$1 billion (NZ$1.6b) and “unicorn” status in the financial markets.In an interview with BusinessDesk, Jo Wickham, a partner at the venture capital firm, stated that Substack would utilise funds from its latest US$100m raise to accelerate its growth and attract top-tier content creators to the platform.The newsletter platf...

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