Decentralized social network Bluesky has raised $100 million in Series B funding, led by Bain Capital Crypto.

CoinFeed reported on March 20th that, according to TechCrunch, decentralized social network Bluesky announced the completion of a $100 million Series B funding round, led by Bain Capital Crypto, with participation from existing investors Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and Knight Foundation. This funding round is expected to close in April 2025, but was not previously disclosed. Bluesky did not disclose its latest valuation; its previous Series A funding round was $15 million, led by Blockchain Capital. Coinciding with the funding announcement, Bluesky CEO Jay Graber announced his resignation to become Chief Innovation Officer.