Social media platform Bluesky has announced a $100 million Series B funding round, aiming to bolster its position as a primary alternative to Elon Musk’s X, formerly Twitter.
The funding was led by Bain Capital Crypto and closed in April 2025, though it was only publicly disclosed in March 2026. Other investors included Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and the Knight Foundation.
The announcement also coincides with a leadership change at the company. Founder Jay Graber has transitioned from CEO to Chief Innovation Officer to focus on developing open social infrastructure, while Toni Schneider, formerly of Automattic, has stepped in as interim CEO.
Since its Series A in 2024, Bluesky has grown from 13 million to over 43 million global users.
The company has simultaneously expanded the AT Protocol (atproto) ecosystem, known as the Atmosphere, which now hosts more than a thousand apps in active weekly use and records roughly 400,000 software development kit (SDK) downloads per month. The platform currently contains around 20 billion public records, including posts, likes, and comments.
Bluesky said the Series B funding provides a foundation to continue building the future of the open social web while maintaining its stated mission and values.