ChainCatcher report: According to TechCrunch, the decentralized social network Bluesky has announced the completion of a $100 million Series B funding round led by Bain Capital Crypto, with existing investors Alumni Ventures, True Ventures, as well as Anthos Capital, Bloomberg Beta, and the Knight Foundation participating. The funding round was completed in April 2025 but was previously undisclosed. Bluesky has not disclosed its latest valuation; its previous Series A round raised $15 million, led by Blockchain Capital. On the announcement of the funding, Bluesky CEO Jay Graber stepped down from her role and transitioned to Chief Innovation Officer. Graber previously stated that although Bluesky does not involve cryptocurrency, its decentralized design was inspired by her earlier work at Zcash, aiming to transform centralized social media into an open, distributed network.
Decentralized social network Bluesky completes $100 million Series B financing
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Summary
Bluesky, the decentralized social network, has raised $100 million in a Series B round led by Bain Capital Crypto, with participation from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation. The funding, closed in April 2025, follows a $15 million Series A led by Blockchain Capital. CEO Jay Graber has stepped down to assume the role of Chief Innovation Officer. Bluesky’s network upgrade is built on a decentralized design inspired by early Zcash work. The latest crypto news underscores continued interest in open social infrastructure.
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