Decentralized social network Bluesky has raised $100 million in a Series B funding round led by Bain Capital Crypto, with participation from Alumni Ventures, True Ventures, Anthos Capital, Bloomberg Beta, and Knight Foundation. The funding round, expected to close in April 2025, was not previously disclosed. Bluesky's previous Series A round raised $15 million. In conjunction with the funding announcement, Bluesky CEO Jay Graber has resigned to become Chief Innovation Officer. Graber, who was inspired by her work at Zcash, aims to transform centralized social media into an open, distributed network. Bluesky's user base has expanded from 13 million to over 43 million, with a growing number of applications based on the AT Protocol.