Bluesky Raises $100 Million Series B Led by Bain Capital Crypto
Bluesky recently announced a significant milestone in its funding journey with the disclosure of a $100 million Series B round led by Bain Capital Crypto. The round, which was closed in April 2025, has only been revealed now as the company undergoes a leadership transition.
The Series B round saw participation from prominent investors including Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation. This funding round comes on the heels of Bluesky’s $15 million Series A round in October 2024 and an $8 million seed round in 2023, bringing the total disclosed funding for the company to approximately $123 million. Bluesky, however, did not disclose its updated valuation.
The funding announcement coincided with the news of Jay Graber stepping down as CEO to assume the role of chief innovation officer. In her place, Toni Schneider has been appointed as the interim chief executive while the board embarks on the search for a permanent replacement.
Since the completion of its Series A round, Bluesky has witnessed a substantial growth in its user base, which has surged from 13 million to over 43 million. Additionally, the company highlighted that the AT Protocol now extends its support to a growing network of apps beyond the primary Bluesky client, encompassing products such as Skylight, Flashes, Surf, and Blacksky.
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