"Since its Series A, Bluesky has seen rapid growth from 13 million to, now, over 43 million global users. Its ecosystem of apps that work on the AT protocol (also known as atproto) and interoperate with one another has also grown, from startups like the video app Skylight or Instagram alternative Flashes to larger companies like Flipboard, which has been building an open social app, Surf."
"The funding news has been strategically shared the week after Bluesky CEO Jay Graber announced she was stepping down from the lead role and transitioning to become Chief Innovation Officer. The move had signaled both Graber's desire to return to building as well as the need for the company to hire a chief executive who could drive Bluesky forward to commercial success."
"The addition of another crypto-oriented VC firm may give some Bluesky users pause, however, especially since, so far, the company has not integrated cryptocurrencies into its offering. Bluesky isn't built on blockchain technology, either. Still, former CEO Graber's earlier work with the cryptocurrency Zcash helped inspire the social network's decentralized design, which has appealed to investors in the crypto space."
Bluesky secured $100 million in Series B funding in April 2025, led by Bain Capital Crypto, with participation from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and Knight Foundation. The funding announcement follows CEO Jay Graber's transition to Chief Innovation Officer, signaling a shift toward hiring a new chief executive for commercial growth. Since its Series A, Bluesky expanded from 13 million to over 43 million global users. The AT protocol ecosystem has grown substantially, with new apps like Skylight and Flashes emerging alongside larger integrations like Flipboard's Surf. The involvement of crypto-focused investors reflects the platform's decentralized design philosophy, though Bluesky itself remains unbuilt on blockchain and has not integrated cryptocurrencies.
#bluesky-funding #series-b-investment #decentralized-social-network #user-growth #at-protocol-ecosystem
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