Bluesky reveals $100 million Series B led by Bain Capital Crypto

Decentralized social platform Bluesky has disclosed that it had raised $100 million in a Series B round back in April 2025.

According to the official announcement, the round was led by Bain Capital Crypto, while other notable investors include Anthos Capital, Bloomberg Beta, Knight Foundation, Alumni Ventures, and True Ventures.

Bluesky said it had already started using the capital to expand its team and scale its infrastructure as it enters a new phase of leadership and growth.

“This new funding gives us the foundation upon which to build the future of the open social web without compromising our mission and values,” it added.

As covered previously, the social media platform raised funding in October 2024 in a Series A round, where it secured $15 million from lead investors such as Blockchain Capital.

Since then, the company has reportedly witnessed a surge in its user base from 13 million to over 43 million globally, while its broader ecosystem of developers, apps, and users building on the AT Protocol has also expanded, per the announcement.

A decentralized social network

Bluesky positions itself as a decentralized social network built on the AT Protocol, which standardizes how identity, social graphs, and content are structured across applications.

Unlike traditional social platforms controlled by a single company, the protocol enables multiple apps and services to interoperate within the same network.

According to the company, the design allows users to move between services without losing their identity, followers, or data, offering greater portability and control over their social presence.