Bluesky, a Seattle, Washington-based social media app with over 42 million users, has raised $100 million in a Series B round led by Bain Capital Crypto, with support from Anthos Capital, Bloomberg Beta, Knight Foundation, Alumni Ventures, and True Ventures.
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The company plans to use the funds to grow its operations and continue development. Since raising the round in April 2025, Bluesky has focused on expanding its team to support the fast growth of both the AT Protocol (atproto) and its app.
Since its Series A in October 2024, Bluesky has grown from 13 million to over 43 million users worldwide. Its ecosystem, called the “Atmosphere,” has also expanded, with over 1,000 apps used weekly and more than 400,000 SDK downloads each month. The platform now includes around 20 billion public records, such as posts, likes, and comments.
Schneider said Bluesky has solved a key industry challenge by combining the openness of decentralized networks with the ease of modern social platforms. However, the company now faces growing regulatory pressure, especially around age verification. Laws in states like Mississippi have led Bluesky to block access there, while Ohio, South Dakota, and Wyoming require age checks.
Under CEO Jay Graber, Bluesky has grown quickly, especially after Elon Musk acquired Twitter (now X), which prompted many users to seek alternatives. As it expanded, the platform also faced moderation challenges, balancing stricter controls with user managed moderation tools.
About Bluesky
Founded in 2021, Bluesky is a social app designed to avoid control by a single company. It uses the open source AT Protocol to connect different apps while keeping a simple user experience. The goal is to make social media more like the early internet, encouraging innovation and allowing developers, communities, and researchers to experiment and improve online social networks.
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