Bluesky unveils $100M Series B amid growth in users and developer ecosystem

Decentralized social network Bluesky disclosed that it raised $100 million in a Series B round in April 2025, led by Bain Capital Crypto. Additional participants included Alumni Ventures, Anthos Capital, Bloomberg Beta, the Knight Foundation and True Ventures. The company said it has been deploying the funds over the past year to expand staff and scale infrastructure. The round follows a Series A in October 2024.

The company reported its global user base rose from about 13 million at the time of the Series A to more than 43 million. Bluesky also reported growth in its wider Atmosphere ecosystem of developers, third-party apps and users building on the AT Protocol.

Bluesky provided usage metrics for the AT Protocol: more than 1,000 apps built on the protocol are used each week, monthly software development kit downloads exceed 400,000, and the network holds roughly 20 billion public records, including posts, likes and other interactions. The AT Protocol structures identity, social graphs and content so different apps can interoperate. The design supports account portability, allowing users to move between apps without losing identity, followers or data, and operates as a federated network.

Founder Jay Graber announced a leadership change in a March 9 blog post. Graber moved from chief executive to chief innovation officer to focus on the protocol’s long-term architecture and to return to “building new things.” Toni Schneider, a partner at True Ventures, is serving as interim chief executive while the company searches for a permanent CEO. Schneider wrote that the project has combined user ownership with a social experience at scale.

Bluesky began as a project started by Jack Dorsey in 2019 while he was CEO of Twitter (now X). Since 2021, the company has operated independently. Twitter ended its service agreement with Bluesky in late 2022.