Bluesky, a social media platform built on the open AT Protocol (atproto), raised $100 million in a Series B funding round announced in April 2025. Bain Capital Crypto led the round, with participation from Alumni Ventures, Anthos Capital, Bloomberg Beta, Knight Capital Foundation, and True Ventures. Bluesky develops decentralized social networking technology that enables users, developers, and apps to interact across an open ecosystem called the Atmosphere.
Funding Overview
Bluesky secured $100 million in Series B funding in April 2025. Bain Capital Crypto invested in Bluesky as the lead investor. Alumni Ventures, Anthos Capital, Bloomberg Beta, Knight Capital Foundation, and True Ventures participated in the round. The funding supports scaling Bluesky’s team amid growth in the AT Protocol and Bluesky app. Bluesky founder Jay Graber led the raise and transitioned to Chief Innovation Officer on March, 2026, to focus on open social infrastructure. Post-funding, Bluesky grew from 13 million users in October 2024 to over 43 million global users by March 2026.
About the Company
Bluesky operates a social media app on the AT Protocol (atproto), an open protocol for decentralized social networking. The company’s ecosystem, known as the Atmosphere, includes builders, apps, and users interacting on atproto. Users engage with over 1,000 apps built on atproto each week. The ecosystem records over 400,000 SDK downloads monthly and holds about 20 billion public records, including posts, likes, comments, and interactions. Bluesky announced its Series A funding in October 2024.
Investors
The Series B round featured explicit investments:
- Bain Capital Crypto
- Alumni Ventures
- Anthos Capital
- Bloomberg Beta
- Knight Foundation
- True Ventures
These investors back Bluesky’s expansion of the AT Protocol and app.
Market Context
Bluesky’s user base expanded from 13 million to over 43 million since its Series A announcement in October 2024. The AT Protocol supports weekly usage of over 1,000 apps. Monthly SDK downloads exceed 400,000. The Atmosphere contains 20 billion public records of user interactions. This growth reflects broader investor interest in decentralized infrastructure, with recent funding activity across the sector, including developments such as TransFi Raises $19.2M, signaling continued momentum.
Funding History
Bluesky has raised funds across three rounds. In its Series B round on March 19, 2026, Bluesky secured $100 million led by Bain Capital Crypto, with investments from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and Knight Foundation. The Series A round in October 2024 raised $15 million, led by Blockchain Capital and including SevenX Ventures, True Ventures, and Alumni Ventures. Bluesky’s seed round on July 5, 2023, brought in $8 million led by Neo, with participation from Protocol Labs and individual investors Amjad Masad, Joe Beda, Heather Meeker, Amir Shevat, Jeromy Johnson, Sarah Drasner, Katelyn Donnelly, Ali Evans.
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