---
title: "Bluesky, the social platform, disclosed that it has completed a $100 million Series B financing after a change in CEO"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/279878084.md"
description: "Social platform Bluesky announced the completion of a $100 million Series B financing, led by Bain Capital Crypto. The funding will primarily be used to expand the team and advance the development of the application and the ATProto protocol. This financing news comes as the new CEO takes office, with Bluesky's user base growing from 13 million to over 43 million"
datetime: "2026-03-20T00:30:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279878084.md)
  - [en](https://longbridge.com/en/news/279878084.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279878084.md)
---

# Bluesky, the social platform, disclosed that it has completed a $100 million Series B financing after a change in CEO

IT Home reported on March 20 that the social platform Bluesky announced the completion of a $100 million (IT Home note: approximately 690 million RMB at the current exchange rate) Series B financing round, led by Bain Capital Crypto. This round was actually completed in April 2025 but was only disclosed recently.

Previously, Bluesky completed a $15 million (approximately 103 million RMB at the current exchange rate) Series A financing round led by Blockchain Capital in 2024, and earlier received $8 million (approximately 55.199 million RMB at the current exchange rate) in seed funding from Neo and several angel investors. Participants in this $100 million Series B financing include existing shareholders Alumni Ventures, True Ventures, as well as institutions like Anthos Capital, Bloomberg Beta, and Knight Foundation. However, Bluesky has not yet disclosed its latest valuation after the financing.

It is reported that **the $100 million financing is mainly used to expand the team size and continue the development of the Bluesky application and the ATProto protocol**. Currently, this protocol supports an open social ecosystem called "Atmosphere," which contains approximately 20 billion public data records (including posts, likes, comments, and other interactions).

IT Home noted that the timing of this financing announcement coincides with the original Bluesky CEO Jay Graber announcing his resignation and transitioning to the role of Chief Innovation Officer, while venture capitalist Toni Schneider takes over as interim CEO. The outside world generally believes this indicates that Bluesky needs a new CEO who focuses more on commercialization.

On the business side, since the Series A financing, Bluesky's user base has grown from 13 million to over 43 million. The application ecosystem built around its underlying protocol AT Protocol (ATProto) is also rapidly expanding, with applications ranging from the video app Skylight, Instagram-like product Flashes, to the open social application Surf being developed by Flipboard, all integrated into this system.

Currently, the developer ecosystem on the platform is also growing rapidly. Official data shows that the ATProto development tools (SDK) have exceeded 400,000 downloads per month, and more than 1,000 applications built on this protocol are being used by users each week, indicating that its open social platform strategy is gradually being implemented

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