Decentralized social network Bluesky completes $100 million Series B funding, led by Bain Capital Crypto

According to TechCrunch, the decentralized social network Bluesky announced the completion of a $100 million Series B funding round, led by Bain Capital Crypto, with participation from existing investors Alumni Ventures, True Ventures, as well as Anthos Capital, Bloomberg Beta, and the Knight Foundation. This funding round was completed in April 2025 but had not been disclosed earlier. Bluesky did not announce its latest valuation; previously, it raised $15 million in Series A funding, led by Blockchain Capital.

At the time of the funding announcement, Bluesky CEO Jay Graber announced her resignation, transitioning to the role of Chief Innovation Officer. Graber had previously stated that although Bluesky does not involve cryptocurrency, its decentralized design is inspired by her early work at Zcash, aiming to evolve centralized social media into an open and distributed network.