• by Colin Kirkland , March 20, 2026

In the week following the announcement of a major transition in company leadership, Bluesky has announced that it raised $100 million in a series B funding round last April, which will enable the company to add developers and build out its protocol functionality.

On March 9, Bluesky announced that CEO Jay Graber is stepping down and will transition to the role of Chief Innovation Officer, and Toni Schneider will join as interim CEO.

The Series B funding will provide the decentralized social-media company with the ability to continue building its team and app functionality.

The company’s series B funding is a significant addition to previous funding rounds, including a $15 million Series A led by Blockchain Capital in 2024, and an $8 million seed round led by investment firm Neo in 2023.

Since Bluesky launched under the direction of Twitter founder and ex-CEO Jack Dorsey three years ago, the platform has grown to 43 million users, while roughly 500 interoperable third-party apps have also joined the AT Protocol, an ecosystem allowing developers to publish an app to a built-in audience.

In response to the open-source approach to social media, developers continue to flock to the AT Protocol, which has seen over 400,000 developer tool downloads per month. According to Bluesky's series B announcement, over one thousand apps are built on the protocol every week.

Bluesky has yet to integrate cryptocurrency or blockchain technology into its offerings, despite being funded by myriad crypto-centric investors.

However, in her recent shift from CEO to chief innovation officer, Graber has worked in the crypto space and is currently focused on “building new things” for Bluesky according to a company blog post.

Although Bluesky has approximately four times the user base of decentralized app competitor Mastodon, the platform falls far behind Meta's Threads app, which was also created to provide users with an alternative to X, the app previously known as Twitter.

In a press release, the company said the funding provides a foundation "upon which to build the future of the open social web without compromising our mission and values."

As she steps down from her role as CEO, Graber said she is making room for “a seasoned operator focused on scaling and execution” as the company looks to gain mainstream popularity while creating “a more open, user-driven internet.”

This story has been updated.