Decentralized social network Bluesky revealed on Thursday that it raised $100 million in a Series B round led by Bain Capital Crypto, with participation from Alumni Ventures, Anthos Capital, Bloomberg Beta, Knight Foundation and True Ventures.
- The round closed in April 2025. Bluesky previously raised a $15 million Series A round in October 2024. “This new funding gives us the foundation upon which to build the future of the open social web without compromising our mission and values,” the company wrote in a post.
- Bluesky has become a leading alternative to X, growing its user base 60% last year from 25.9 million users to 41.4 million. The company recently reported that it now has 43 million users.
- Bluesky announced earlier this month that former CEO Jay Graber is moving to a new role as chief innovation officer. Toni Schneider, former CEO of Automattic (operates WordPress.com) and partner at True Ventures, is interim CEO while the board searches for a permanent new leader.
- Bluesky is a remote company, but it has several employees based in Seattle, including Graber and CTO Paul Frazee.
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