Bluesky has raised $100 million in Series B funding as the company prepares for its next stage of growth following a leadership transition.
The round, led by Bain Capital Crypto, was completed in April 2025 but disclosed this week. Additional investors include Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and Knight Foundation.
The company did not disclose its latest valuation.
Funding Follows Leadership Transition
The announcement comes shortly after CEO Jay Graber said she would step down from her role and transition to chief innovation officer.
The move signals a shift in focus toward product development while the company looks to bring in leadership aimed at scaling the business commercially.
User Growth Accelerates Since Series A
Since its Series A funding round in 2024, Bluesky has grown from 13 million to more than 43 million global users.
Its broader ecosystem, built on the AT Protocol (ATProto), has also expanded, supporting a growing network of interoperable applications.
These include startups such as Skylight and Flashes, as well as platforms like Flipboard, which is developing an open social app called Surf.
New communities have also emerged, including Blacksky.
Crypto Investors Join Despite Non-Blockchain Approach
The involvement of crypto-focused investors may raise questions among some users, as Bluesky is not built on blockchain technology and has not integrated cryptocurrencies into its platform.
However, Graber’s earlier work on Zcash influenced the network’s decentralized design, which has attracted interest from investors in the crypto sector.
Graber has previously described Bluesky’s approach as evolving social media from centralized platforms into more open and distributed systems.
Developer Ecosystem Continues To Expand
The company said the new funding has been used to scale its team and further develop both its app and the underlying AT Protocol.
Bluesky’s broader ecosystem, referred to as the “Atmosphere,” now includes around 20 billion public records, covering posts, likes, and other interactions.
Developer activity is also increasing, with over 400,000 monthly downloads of software development tools and more than 1,000 apps built on the protocol being used each week.
The latest funding round positions Bluesky to continue expanding its open social network model as competition in the social media space intensifies.
Featured image credits: Heute.at
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