Bluesky, a decentralized social media platform, announced that Bain Capital Crypto led a $100 million Series B funding round. Bluesky completed the funding round in April 2025, but only now has it become public.
The Series B round had several important investors, such as Bloomberg Beta, the Knight Foundation, and Alumni Ventures. This shows that more and more people believe in Bluesky’s plan to build a decentralized social media network. Bluesky’s user base has grown significantly, from 13 million to over 43 million, and more developers and apps are joining the platform.
Bluesky is not like regular social media apps. It is built on something called the AT Protocol, which allows users to control their data and easily move between different apps by keeping followers and identity across platforms. Unlike traditional platforms, no single company fully controls the network.
Bluesky says that it will use the funding to grow its team and improve its platform by expanding its network. The business wants to make a social network that is open and gives users more power. Bluesky is becoming a big name indecentralized social media because it has a lot of money and is growing quickly. The $100 million investment is a big step forward for Bluesky’s growth.
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