The decentralized social platform Bluesky completed a $100 million Series B funding round in April 2025, led by Bain Capital Crypto.
Bluesky stated that the company has begun utilizing these funds for team expansion and infrastructure upgrades to support its new leadership and growth phase.
“This new funding lays the groundwork for us to build the future of an open social network without compromising our mission and values,” Bluesky added.
According to the announcement, since the funding, Bluesky's user base has seen significant growth, skyrocketing from 13 million to over 43 million globally. At the same time, the developer, application, and user ecosystem built on the AT Protocol has also expanded.
Builders of the Decentralized Social Network
Bluesky positions itself as a decentralized social network built on the AT Protocol. The AT Protocol aims to unify identity, social graphs, and content in a structured manner across different applications.
Unlike traditional social platforms controlled by a single company, the protocol allows multiple applications and services to coexist and interoperate within the same network.
The company noted that this design enables users to migrate between different services without losing their identity, followers, or data, providing greater portability and control over their social presence.