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Social media platform Bluesky has raised $100 million in Series B funding. The round was led by Bain Capital Crypto and completed in April 2025, but was not revealed until recently. The company received additional funding from 3 investors, including Alumni Ventures, True Ventures, and Bloomberg Beta. Bluesky’s previous funding rounds totalled $15 million and $8 million.
The funding news came shortly after Jay Graber stepped down as CEO. She will now serve as Chief Innovation Officer. This move shows a change in focus. The company is now aiming to bring leadership that can drive business growth and ensure product innovation.
The global user base has increased from 13 million to over 43 million. This shows Bluesky has seen strong growth since its previous funding round. The platform runs on the AT Protocol that allows different apps to connect and work simultaneously.
Skylight and Flashes are also part of this ecosystem, and another platform, Flipboard, is currently in development. The broader network now includes around 20 billion public records of posts and other interactions.
The current funding round has attracted investors associated with cryptocurrency projects. Users have raised concerns over this topic. However, Bluesky operates without blockchain technology and does not incorporate any cryptocurrency. The platform attracts attention from cryptocurrency investors because of its decentralized structure.
Bluesky has entered a new development phase through its exceptional funding, fast-paced expansion, and changes in executive leadership. The company’s open, decentralized social network platform is its main operational focus. It shows promising growth potential, evidenced by its growing user base and developer interest. The company needs to strike a balance between user trust and new product development.
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