Bluesky announces $100M Series B following CEO transition

Social network Bluesky The company is gearing up for big changes with today’s news that the company has raised $100 million in Series B funding. The round, led by Bain Capital Crypto, closed in April 2025 but has not been disclosed yet.

Others who participated in the round include existing investors Alumni Ventures and True Ventures, as well as Anthos Capital, Bloomberg Beta and Knight Foundation. This tour follows Bluesky’s Series A of $15 million, Led by Blockchain Capital, which closed in 2024, and $8 million seed round from The new ones and other angel investors in the previous year. Bluesky did not disclose its updated assessment.

Funding news was shared strategically the following week Jay Graber, CEO of Bluesky, announced that she will be stepping down from her position From a leadership role and transitioning to become Chief Innovation Officer. The move signaled Graber’s desire to return to construction as well as the company’s need to hire a CEO who could move Bluesky forward toward commercial success.

Since its Series A, Bluesky has seen rapid growth from 13 million to over 43 million global users now. that it Application ecosystem That run on the AT protocol (also known as atproto) and interact with each other has also grown, from startups such as Skylight video application or Alternative flash files for Instagram For big companies like Flipboard, which has built an open social app, browse. new Communities It also arose, like Blackskywhich supports black social media users.

However, the addition of another cryptocurrency-oriented VC firm may turn off some Bluesky users, especially since the company has not yet integrated cryptocurrencies into its offerings. Bluesky isn’t built on blockchain technology either. However, former CEO Graber’s previous work with the cryptocurrency Zcash helped inspire the social network’s decentralized design, which attracted cryptocurrency investors.

As Grabber once Wired said In an interview, “The term Web3 has become so associated with cryptocurrencies, so it’s not a good word to use for what we do. But if you think of Web3 as an evolution of Social Web 2.0, that kind of… He is What we do. “We are evolving social media that used to rely on centralized companies into something open and distributed,” she said last spring.

The additional funds were used to expand the Bluesky team, while the company continues to develop the Bluesky app and its core foundation. com. atproto This strengthens it. This technology powers now A set of applications It’s in the larger open social ecosystem known as Atmosphere, a network that now contains about 20 billion public records, including posts, likes, comments and other interactions, the company said Thursday.

Additionally, the number of developers relying on atproto is growing, as evidenced by the more than 400,000 developer kit (SDK) downloads occurring monthly. Additionally, Bluesky says people use more than a thousand apps built on atproto every week.