PANews, March 20: According to TechCrunch, decentralized social network Bluesky has announced the completion of a $100 million Series B round led by Bain Capital Crypto, with existing investors Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation also participating. The financing 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. At the time of the funding announcement, 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. Bluesky’s user base has grown from 13 million at the time of its Series A to over 43 million, and the number of applications built on its AT Protocol ecosystem is also increasing.
Decentralized social network Bluesky completes $100M Series B round led by Bain Capital Crypto
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Summary
Bluesky, the decentralized social network, has secured $100 million in funding for its B-round, led by Bain Capital Crypto, with participation from Alumni Ventures, True Ventures, and other existing investors. The round, closed in April 2025, follows a $15 million A-round in 2023. CEO Jay Graber stepped down to assume the role of Chief Innovation Officer as the platform’s user base grew to 43 million. The network upgrade under the AT Protocol continues to drive ecosystem expansion.
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