Bluesky Raises $100M in Series B to Expand Open Social Platform

Bluesky just pulled in $100M in Series B funding, and the subtext is louder than the headline. This round was led by Bain Capital Crypto, with Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and Knight Foundation joining the table. That is not tourist money. That is conviction capital walking into a category where most platforms still treat users like rented land and developers like unpaid interns.

The fun part is that Bluesky is not selling another social app with a shinier paint job and a smile from legal. Bluesky is building on the AT Protocol, which means the story is bigger than one feed, one app, or one company trying to play landlord over the internet. The platform gives users short posts, images, video, custom feeds, portable identity, and more control over moderation and discovery. In plain English, social media starts acting a little more social and a lot less medieval.

That is why this round matters. Since the Series A, Bluesky has grown from 13M users to more than 43M globally. The broader ATProto ecosystem now carries around 20B public records, sees more than 400K SDK downloads each month, and supports more than 1K apps used every week. When numbers start stacking like that, the argument changes. You are not pitching an idea anymore. You are proving behavior. The market is not asking whether people want an open social web. The market is already in the building, looking for better exits.

Credit where it belongs. Congratulations to Jay Graber, founder and now Chief Innovation Officer, and Toni Schneider, Interim CEO, for steering this next chapter with the kind of discipline that keeps vision from turning into cosplay. There is also real lineage in the origin story. Jack Dorsey helped spark the original Bluesky project inside Twitter back in 2019, but what matters now is that Bluesky grew into its own public benefit corporation and kept moving while plenty of larger players kept explaining why users should settle down and be grateful.

There is a business lesson here that founders should not miss. Bluesky did not raise this round on volume alone. Bluesky raised because the company paired product clarity with structural conviction. A distinct model. A real protocol. Real user growth. Real developer pull. Real reasons for investors to believe this can scale without turning into the same centralized mess dressed up in softer colors. Capital likes momentum, sure, but it loves coherence.

And for users, developers, creators, and communities tired of living at the mercy of one opaque algorithm and one company’s mood swing, Bluesky is making a pretty direct pitch without yelling about it. Own more. Choose more. Build more. In a market crowded with platforms trying to trap attention, Bluesky is betting that freedom might actually be the better feature, and that is the kind of social climbing worth watching