Social network Bluesky has secured $100 million in Series B funding, a significant milestone that comes after the recent transition of CEO Jay Graber to the role of chief innovation officer. The funding round, led by Bain Capital Crypto and joined by existing investors like Alumni Ventures and True Ventures, signifies a strategic step forward for the company.
Bluesky’s user base has grown from 13 million to over 43 million globally since the Series A funding. The company’s ecosystem, built on the AT Protocol (ATProto), has expanded to include diverse apps such as the video app Skylight and the social platform Blacksky, catering to a wide range of user preferences.
While Bluesky has not yet incorporated cryptocurrencies into its platform nor does it rely on blockchain technology, the decentralized design of the network, influenced by Graber’s past involvement with Zcash, has resonated well with crypto investors.
The funding success and executive changes underscore Bluesky’s commitment to innovation and scalability, positioning the company for further expansion and industry impact.
Source: TechCrunch