Bluesky raises $100M Series B following CEO transition
Synopsis
Bluesky announced a $100 million Series B funding round, closed in April 2025, following a CEO transition. The round, led by Bain Capital Crypto, supports platform development, AT Protocol expansion, and its user base of over 43 million worldwide.
Bluesky disclosed a $100 million Series B funding round after a CEO transition, supporting AT Protocol development and global expansion of its decentralised social network.
Key Highlights
- Bluesky raised $100 million Series B, completed in April 2025.
- Funding led by Bain Capital Crypto with multiple venture participants.
- Registered user base exceeds 43 million globally.
- Capital supports AT Protocol development and platform operations.
Bluesky has raised $100 million in a Series B funding round, originally completed in April 2025, and publicly disclosed in March 2026. The round was led by Bain Capital Crypto and included contributions from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation.
This funding follows previous financing, including an $8 million seed round and a $15 million Series A in 2024. The capital is designated to support platform development, engineering, and operations, as well as further advancement of the AT Protocol, which provides the technical foundation for Bluesky’s decentralised social network.
User Growth and Reach
Since its public launch in February 2024, the social network platform has grown its registered user base to over 43 million, with users across the United States, Brazil, Japan, the United Kingdom, and Germany. The platform allows independent applications to operate within the AT Protocol, providing interoperability across different services and ensuring verifiable user identities.
Decentralised networks like Bluesky differ from traditional social media by distributing control and supporting interoperable applications, rather than relying on a single centralised system.
Leadership Update
The Series B disclosure followed a leadership change in March 2026, when founding CEO Jay Graber stepped down from her role, and Toni Schneider was appointed interim CEO. The announcement drew attention because the funding had closed nearly a year earlier, but was only made public after the executive transition.
Sector Context
Decentralised social media platforms remain a smaller segment compared with mainstream social networks but have attracted increasing venture investment. Bluesky’s Series B funding demonstrates continued investor interest in distributed networking models and technical frameworks such as the AT Protocol.
FAQs
Q1. How much did Bluesky raise in its Series B round?
Bluesky raised $100 million in its Series B funding round.
Q2. Who led Bluesky’s Series B funding?
Bain Capital Crypto led the Series B round with several other investors.
Q3. How many users does Bluesky have now?
Bluesky has over 43 million registered users worldwide as of March 2026.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
