Bluesky has raised a total of $36 million across 3 funding rounds, with its largest being a $15 million Series A round in October 2024. The social media platform focuses on creating an open, user-centric internet with customizable timelines, moderation tools, and an open developer ecosystem. Bluesky emphasizes user empowerment, transparency, and decentralized social interactions, aiming to provide a community-driven alternative to traditional platforms.
Keep reading to explore Bluesky’s funding journey, key investors, and what’s next for this innovative platform.
What Is Bluesky and What Does It Do?
Bluesky is a social media platform dedicated to building an open and user-centric social internet. The company offers features such as customizable timelines, advanced moderation tools, and an open developer ecosystem for building social media applications. Bluesky focuses on fostering user creativity, community engagement, and a platform where no single individual or organization has control.
While specific details about the founding year, exact location, and number of employees are not publicly disclosed, the company’s mission and features are clearly outlined on its official website.
How Much Funding Has Bluesky Raised?
- Seed Round
- Amount Raised: $13M
- Date: March 2023
- Lead Investors: Atlas Benjelloun, Atlas Finance Group, Jack Dorsey
- Motivation: To kickstart the development and initial growth of the platform.
- Seed Round
- Amount Raised: $8M
- Date: July 2023
- Lead Investors: Neo
- Motivation: To further develop the platform and expand its user base.
- Series A
- Amount Raised: $15M
- Date: October 2024
- Lead Investors: Blockchain Capital, Alumni Ventures
- Motivation: To support Bluesky’s community, invest in Trust and Safety, grow the ATmosphere developer ecosystem, and develop a subscription model for premium features.
Total Funding Raised: $36M
Latest Funding Date: October 2024
Key Investors
- Blockchain Capital
- Details: Blockchain Capital is a venture capital firm focusing on blockchain technology and cryptocurrency. Founded in 2013, it is a pioneer in the blockchain investment space.
- Investment Focus Areas: Blockchain, cryptocurrency, fintech
- Notable Investments: Coinbase, Ripple, Kraken
- Alumni Ventures
- Details: Alumni Ventures offers venture investing opportunities to accredited investors, utilizing a network of university alumni to source and invest in promising startups.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Beyond Meat, SpaceX, Airbnb
- Neo
- Details: Neo is a mentorship-driven venture capital firm founded by Ali Partovi, investing in early-stage tech startups.
- Investment Focus Areas: Software, artificial intelligence, consumer internet
- Notable Investments: Dropbox, Airbnb, Coursera
- Atlas Finance Group
- Details: Atlas Finance Group is a private investment firm specializing in high-growth sectors, providing capital and strategic support to its portfolio companies.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Not publicly disclosed
- Jack Dorsey
- Details: Jack Dorsey is the co-founder and former CEO of Twitter and Square (now Block), known for contributions to the tech industry and decentralized technologies.
- Investment Focus Areas: Social media, fintech, blockchain
- Notable Investments: Twitter, Square, TIDAL
Where Is Bluesky’s Headquarters?
Specific city and state are not publicly disclosed, but the platform operates in the United States, enabling collaboration with developers, creators, and tech investors to advance a decentralized social internet.
What’s Next for Bluesky?
Bluesky plans to expand its user base through a subscription model offering premium features such as higher-quality video uploads and profile customizations. With a reported growth of 3 million users in the last month, the platform now totals 13 million users.
Future fundraising opportunities are likely, supported by strong investors like Blockchain Capital and Alumni Ventures. Key challenges include competition from other decentralized platforms and ensuring the subscription model enhances, rather than alienates, users.
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