Home / Technology / Bluesky Secures $100M to Fuel Decentralized Social Growth
Bluesky Secures $100M to Fuel Decentralized Social Growth
20 Mar
Summary
- Bluesky raised $100 million in a Series B funding round led by Bain Capital Crypto.
- The company has grown to over 43 million global users since its Series A.
- CEO Jay Graber transitioned to Chief Innovation Officer after funding announcement.
Social network Bluesky announced a significant $100 million Series B funding round, led by Bain Capital Crypto, which closed in April 2025. This capital infusion is intended to scale the company's team and further develop its core app and the underlying AT protocol. The funding news arrives shortly after CEO Jay Graber transitioned to Chief Innovation Officer, a move aimed at focusing on building and hiring a new CEO to drive commercial success.
Bluesky has seen remarkable user growth, expanding from 13 million to over 43 million global users since its Series A funding. Its ecosystem built on the AT protocol, which enables interoperability between different applications, has also expanded significantly. This growth in the 'Atmosphere' network, now containing approximately 20 billion public records, demonstrates the increasing developer interest and user engagement with decentralized social media alternatives.
While Bluesky is not built on blockchain technology and does not currently integrate cryptocurrencies, its decentralized design, inspired by former CEO Graber's work with Zcash, has attracted investment from the crypto space. Graber previously described their approach as evolving social media beyond centralized companies into an open and distributed model, distinct from the cryptocurrency-associated term Web3.
