Bluesky Secures $100 Million Series B Funding to Scale Open Social Network Infrastructure

Bluesky has officially announced a $100 million Series B funding round led by Bain Capital Crypto to strengthen its decentralized social network. The investment, which was finalized in April 2025 but kept private until now, supports a platform that has rapidly expanded to more than 43 million global users. This financial milestone arrives as the company transitions its leadership to focus on long-term protocol innovation and massive user scaling. In a strategic shift, founder Jay Graber has moved from CEO to Chief Innovation Officer to concentrate on the technical future of the AT Protocol. Toni Schneider, former CEO of Automattic and partner at True Ventures, has stepped in as interim CEO to manage the business's scaling efforts. This restructuring ensures that the organization can handle intense commercial growth while maintaining its commitment to open-source development and decentralization. The Atmosphere ecosystem surrounding Bluesky is seeing unprecedented activity with over 1,000 third-party apps now operational on the protocol. Developers are downloading the AT Protocol SDK more than 400,000 times each month, contributing to a massive database of 20 billion public records. This growth highlights a significant shift from closed platforms to an open social web where users maintain control over their data and connections.

Looking forward, the new capital will fund team expansion and the development of core infrastructure without compromising the company's public benefit values. While Bluesky has not announced specific generative AI tools, its roadmap focuses on algorithmic choice to give users control over their feeds. This approach allows the community to build their own AI-driven moderation or discovery tools rather than relying on a single corporate algorithm.

Participation in the round came from diverse backers including Alumni Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation. These partners reflect a broad interest in social infrastructure that supports free speech and decentralized ownership. The funding provides a stable foundation for Bluesky to continue its mission of transitioning the social web from proprietary platforms to transparent protocols.