Bluesky announces $100M Series B after CEO transition

Bluesky has secured $100 million in Series B funding, led by Bain Capital Crypto, following CEO Jay Graber's transition to chief innovation officer. The company aims to enhance growth, having expanded its user base from 13 million to over 43 million since its Series A funding in 2024. The funds will be used to scale the team and further develop the AT Protocol-powered apps in the Atmosphere ecosystem.

Key Points

• Bluesky raised $100 million in Series B funding, led by Bain Capital Crypto.
• The funding round closed in April 2025, previously undisclosed, with participation from existing investors and others.
• CEO Jay Graber transitioned to chief innovation officer, indicating the need for new leadership for growth.
• User base increased from 13 million to over 43 million since Series A in 2024.
• Funds will support scaling the team and developing the Bluesky app and AT Protocol technology.
• Over 400,000 developer tool downloads each month; adoption of ATProto apps is growing significantly.

Relevance

• Bluesky's funding aligns with the increasing investment trends in decentralized technologies and social media alternatives.
• The growth of user bases in social networks mirrors ongoing shifts in user behavior post-2024, moving towards privacy-focused platforms.
• The mention of AT Protocol and its growing ecosystem reflects the trend in 2025 toward decentralized applications and Web3 technologies.

Bluesky's successful funding amidst a leadership transition highlights its commitment to innovation and scaling, tapping into the broader trend of decentralized social networks as users seek alternatives to traditional platforms.