Social platform Bluesky completes $100 million Series B funding, will continue to expand team size

Ask AI: Why did Bluesky choose to disclose its Series B funding after a CEO transition?

On March 20, DoNews reported that the social platform Bluesky announced it has completed a $100 million (about RMB 690 million at the current exchange rate) Series B funding round. The round was led by Bain Capital Crypto and was actually completed in April 2025, but it was not disclosed to the public until recently.

Previously, Bluesky had completed a $15 million (about RMB 103 million at the current exchange rate) Series A round led by Blockchain Capital in 2024, and earlier received a $8 million (about RMB 55.199 million at the current exchange rate) seed round from Neo and multiple angel investors.

Participants in this $100 million Series B round include existing shareholders Alumni Ventures and True Ventures, as well as institutions such as Anthos Capital, Bloomberg Beta, and the Knight Foundation. However, Bluesky has not yet disclosed its latest valuation after the financing.

It is understood that this $100 million financing is mainly intended to expand the team and continue advancing the development of the Bluesky app and the ATProto protocol. Currently, this protocol supports an open social ecosystem network called “Atmosphere,” which includes approximately 20 billion publicly available data records (including interactions such as posts, likes, and comments).

The timing of this funding disclosure coincides with the period when the former Bluesky CEO Jay Graber announced he would step down and take on the role of Chief Innovation Officer, and when venture capitalist Toni Schneider served as interim CEO. Outside observers generally believe this means Bluesky itself needs a new CEO who will place greater emphasis on driving commercialization.

On the business side, since its Series A funding, Bluesky’s user base has grown from 13 million to over 43 million. Its application ecosystem built on its underlying protocol AT Protocol (ATProto) is also rapidly expanding. Applications ranging from the video app Skylight, to the Instagram-like product Flashes, to Surf—an open social application that Flipboard is developing—have all been integrated into this system.

Meanwhile, the platform developer ecosystem is also growing quickly. Official data shows that monthly downloads of ATProto development tools (SDKs) have exceeded 400,000, and each week users engage with more than 1,000 applications built on the protocol, indicating that its open social platform strategy is gradually taking shape.