Bluesky has raised $100 million in Series B funding led by Bain Capital Crypto, the decentralized social network announced Thursday. The round, closed in April 2025 but undisclosed until now, included participation from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation. This follows Bluesky's $15 million Series A from Blockchain Capital last year and an $8 million seed round.

CEO Jay Graber revealed this week she's transitioning to chief innovation officer, signaling the need for commercial leadership as Bluesky scales. The timing of the funding announcement, coming just after the leadership change, suggests strategic coordination. Since its Series A, Bluesky has grown from 13 million to over 43 million global users, with its AT Protocol ecosystem expanding to include apps like Skylight, Flashes, and Flipboard's Surf.

The funding will support team expansion and continued development of ATProto, which now powers around 20 billion public records in the broader Atmosphere network. Developer adoption is accelerating with over 400,000 monthly SDK downloads and more than a thousand ATProto-based apps used weekly. The addition of crypto-focused investors may raise questions among users, though Bluesky remains blockchain-agnostic.