Bluesky Hits 43M Users after Raising $100M in Series B Round

Decentralized social network Bluesky has disclosed a previously unannounced $100 million Series B funding round, months after the capital was raised in April 2025. The company made the announcement as it entered a new leadership phase and expanded its infrastructure to support rapid user growth.

The funding round was led by Bain Capital Crypto, with participation from Alumni Ventures, Anthos Capital, Bloomberg Beta, Knight Foundation, and True Ventures. The company confirmed that it has already deployed the capital to scale its team and technical infrastructure.

The announcement states:

"We're excited to share more as we move into a new era of leadership and further growth."

The company did not release the funding earlier, despite closing the round in April 2025.

User growth and ecosystem expansion accelerate

Bluesky reported a sharp increase in its global user base. The platform grew from 13 million users after its Series A round in October 2024 to more than 43 million users. This expansion occurred alongside the development of its broader ecosystem, referred to internally as the “Atmosphere.”

The company described the scale of activity across its network in its official statement.

“Every week, people use over a thousand apps built on atproto. Every month, we see over 400,000 SDK downloads.”

The statement also noted that the ecosystem contains approximately 20 billion public records, including posts, likes, and comments.

These figures reflect adoption beyond the core app. The underlying protocol has become a foundation for multiple applications that operate within the same network structure.

Leadership transition signals internal shift

The funding disclosure coincides with a leadership change inside Bluesky. Founder Jay Graber stepped down from the chief executive role and moved into the position of chief innovation officer. Her new role focuses on long-term protocol development and infrastructure.

The company appointed Toni Schneider, a partner at True Ventures, as interim CEO. The leadership transition reflects a shift in priorities toward scaling operations and refining governance structures as the platform expands.

In a March blog post, Graber explained the move as a return to building new systems. Schneider highlighted the platform’s progress in combining user ownership with large-scale social interaction.

AT Protocol drives decentralized model

Bluesky operates on the AT Protocol, which defines how identity, social graphs, and content function across applications. The protocol allows interoperability between different apps, rather than restricting users to a single platform.

The company describes this system as a federated network that supports account portability. Users can move between services without losing their identity, followers, or data. Bluesky compares this approach to a passport system for social media.

This structure differs from traditional platforms, where a single company controls user data and content distribution. Bluesky positions its model as an alternative that offers users more control over how their content appears and how moderation works.

Infrastructure scaling follows funding deployment

Bluesky confirmed that the Series B capital supported hiring and infrastructure development over the past year. The company focused on handling increased demand from both users and developers.

The number of applications built on the AT Protocol now exceeds 1,000 on a weekly usage basis. Monthly software development kit downloads have crossed 400,000. These metrics indicate that developer activity plays a central role in the platform’s growth.

The company linked its expansion directly to the funding round.

“This new funding gives us the foundation upon which to build the future of the open social web without compromising our mission and values,” the statement reads.

Origins and independence shape trajectory

Bluesky began as a project initiated by Jack Dorsey in 2019 while he served as CEO of Twitter. The initiative aimed to explore decentralized social media infrastructure.

The project became independent in 2021. Twitter ended its service agreement with Bluesky in late 2022. Since then, the company has operated as a standalone organization with its own funding rounds and governance model.

This separation allowed Bluesky to develop its protocol without direct oversight from a centralized social media company.

Early operational challenges remain part of expansion

Rapid growth created operational pressure. The platform required scaling infrastructure to handle millions of new users and increasing developer activity. The decision to delay disclosure of the funding round also reflects a focus on execution rather than public visibility.

The leadership transition adds another layer of complexity. A shift in executive roles often requires internal restructuring, particularly during periods of expansion.

Bluesky addressed these challenges through its funding strategy and organizational changes. The company expanded its team and focused resources on the AT Protocol ecosystem.

Next phase centers on open social infrastructure

Bluesky’s strategy now centers on building what it calls open social infrastructure. The company aims to support a network where multiple applications interact through a shared protocol.

The scale of its ecosystem suggests that this approach has gained traction among developers and users. At the same time, the company continues to refine governance and leadership as it grows.

The funding disclosure, combined with leadership changes and user growth, marks a new phase for the platform. The next stage will depend on how effectively Bluesky manages scale, maintains decentralization principles, and supports its expanding ecosystem.

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