Rapid growth in users and ecosystem activity positions Bluesky as a leading force in decentralized social media adoption.
A major funding reveal is putting Bluesky back in focus as it enters a new stage of growth. The decentralized social platform has expanded rapidly, drawing millions of users and developers. At the same time, leadership changes are pushing the firm toward an open, user-controlled social network.
Bluesky Lands New Backing as Adoption and Developer Activity Rise
Bluesky has revealed a previously undisclosed $100 million Series B funding round. Completed in April 2025, the raise comes as the company shifts leadership and expands its global reach.
The funding round was led by Bain Capital Crypto, with backing from Alumni Ventures, Anthos Capital, Bloomberg Beta, Knight Foundation, and True Ventures. Bluesky confirmed it has spent the past year using the funds to grow its team and improve its infrastructure.
Last April, Bluesky raised $100M in Series B funding led by Bain Capital Crypto. Since then: 13M → 43M+ users. Join us. https://t.co/9BHrw9qEw9
— Bluesky (@bluesky) March 19, 2026
Company leadership said the investment supports long-term expansion plans. It also signals strong investor confidence in decentralized social platforms. Bluesky added that more updates will follow as it enters a new phase of growth.
According to the company statement, user adoption has increased sharply since its Series A round in October 2024. The platform grew from 13 million users to over 43 million worldwide. At the same time, its broader “Atmosphere” ecosystem has expanded. That ecosystem includes developers, apps, and services built on the AT Protocol.
Leadership Transition at Bluesky Marks Focus on Protocol and Growth
Alongside this growth, leadership changes add another layer to the company’s transition. Founder Jay Graber recently stepped down as CEO. She now serves as chief innovation officer, focusing on protocol development.
Meanwhile, Toni Schneider, a partner at True Ventures, has taken over as interim CEO while a permanent replacement is sought. Graber described the move as a return to building new products and ideas.
Schneider pointed to Bluesky’s ability to combine user ownership with a large-scale social experience. That balance has remained a challenge for many decentralized platforms.
He further emphasized continued support for its team and its open social web vision. Users were reminded that they control their identity, data, and connections on the platform.
The interim CEO also addressed developers building on AT Protocol directly. He described them as central to the ecosystem’s growth, saying the company will continue working toward a fully decentralized system that developers can trust.
