Bluesky has raised $100 million in a Series B funding round led by Bain Capital Crypto, marking a major milestone as the decentralized social network prepares for its next stage of growth.
The round, which closed in April 2025 but is only now being disclosed, also included participation from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation. It follows a $15 million Series A in 2024 and an earlier $8 million seed round.
Leadership Shift Signals Strategic Refocus
The funding announcement comes shortly after CEO Jay Graber stepped down from her role to take on the position of chief innovation officer.
The transition reflects a shift in focus, allowing Graber to return to product development while the company looks to bring in leadership aimed at scaling Bluesky commercially.
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Rapid Growth And Expanding Ecosystem
Since its Series A, Bluesky has grown significantly, increasing its user base from 13 million to over 43 million globally.
At the same time, its underlying AT Protocol has supported the emergence of a growing ecosystem of applications. These include newer platforms as well as integrations from more established players, contributing to a broader open social network often referred to as the Atmosphere.
The network now hosts tens of billions of public interactions, including posts, likes, and comments, while developer activity continues to increase, with hundreds of thousands of toolkit downloads each month.
Building An Open Social Infrastructure
Bluesky’s approach focuses on decentralisation rather than traditional platform control. Its protocol allows multiple applications to interoperate, creating a more open and distributed social media environment.
While the involvement of crypto-focused investors may raise questions, the platform itself is not built on blockchain technology. Instead, it draws inspiration from decentralised principles to reshape how social networks are structured and governed.
Scaling Team And Technology
The newly raised capital has been used to grow Bluesky’s team and further develop both its core application and the AT Protocol.
As the ecosystem continues to expand, the company is positioning itself as a foundational layer for next-generation social platforms, enabling developers and users to interact across a shared, open infrastructure.
