"Lantian Graber—"blue sky" in Mandarin, a name her mother gave her as a wish for boundless freedom, spent four years turning a Twitter research project into a platform of over 43 million users, a functioning decentralised protocol, and a genuine alternative to the platforms her users had fled."
"The gap between closing and announcing is itself worth pausing on. For most startups, fresh funding is a press release and a celebratory tweet. Bluesky's choice to sit on $100 million for nearly a year, and to surface it only after a leadership transition, suggests a company more focused on building than on performing momentum."
"The company announced on Thursday that it had raised $100 million in a Series B round led by Bain Capital Crypto, with participation from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation. The round closed in April 2025. Bluesky is only disclosing it now."
Bluesky, a decentralised social platform with over 43 million users, disclosed a $100 million Series B funding round led by Bain Capital Crypto nearly a year after it closed in April 2025. The announcement came ten days after founder Lantian Graber stepped aside as CEO. The delayed disclosure reflects the company's focus on building rather than performing momentum. Toni Schneider, former CEO of Automattic and partner at True Ventures, assumed the interim CEO role while the board searches for a permanent replacement. Graber transitioned to chief innovation officer, focusing on developing the AT Protocol, the open social infrastructure underlying the platform. The funding round included participation from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation.
#bluesky-funding #series-b-investment #decentralised-social-platform #leadership-transition #at-protocol
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