Bluesky Secures $100 Million in Series B Investment

(AsiaGameHub) –   Bluesky has secured $100 million in Series B financing, providing the social platform with new capital as it moves into a period of expansion and executive transition. Bain Capital Crypto led the investment round, which was completed in April 2025 but was only made public now.

Good to Know

• Bluesky confirmed the Series B financing amounted to $100 million.
• The firm reported its user base has expanded from 13 million to over 43 million since its Series A round.
• Jay Graber recently announced she is stepping down as CEO to take on the role of chief innovation officer.

Financing Comes as Bluesky Enters a New Phase

The timing of this funding announcement is notable as it follows just one week after Jay Graber announced her departure as chief executive. Graber is transitioning to the chief innovation officer position, a move that reflects her desire to return to product development while Bluesky seeks a leader centered on business growth.

The Series B round also included participation from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and Knight Foundation. Bluesky did not reveal its new valuation.

This latest funding follows a $15 million Series A round led by Blockchain Capital in 2024 and an $8 million seed round in 2023 supported by Neo and various angel investors.

Since its Series A, Bluesky stated its global user base has increased from 13 million to more than 43 million. Concurrently, the broader ecosystem surrounding the AT Protocol has expanded as additional applications and communities have begun developing on the platform.

This includes startups like the video application Skylight and Instagram alternative Flashes, as well as larger firms such as Flipboard, which is developing its open social application Surf. Additional communities have also emerged around the network, such as Blacksky, which serves Black social media users.

One aspect of the announcement might attract particular user interest. Bain Capital Crypto participated in the new round despite Bluesky not having integrated crypto products into its service and not being blockchain-based. Nevertheless, crypto investors have expressed interest in the company because Graber previously worked with Zcash, and that experience influenced the decentralized architecture of Bluesky.