Bluesky raises $15M to expand decentralized social network and developer ecosystem

Decentralized social network Bluesky announced today that it has raised $15 million in new funding to expand its user base, enhance its developer ecosystem and continue building out features that prioritize user empowerment and safety.

Founded in 2019 by former Twitter Inc. Chief Executive Jack Dorsey, Bluesky offers a decentralized social network built on the AT Protocol that gives users more control over their online experiences. The platform is designed to allow users to choose their own algorithms and moderation systems — differing from other social networks and breaking away from traditional centralized control.

While similar to existing services, Bluesky is committed to decentralization without the use of blockchain or cryptocurrencies. The AT Protocol used by the company enables an ecosystem of apps and services that can interoperate while allowing users to retain ownership of their data. The approach also gives developers the ability to create new tools and apps on top of the existing network, potentially fostering innovation in social media.

Blockchain Capital led the Series A round, with participation from Alumni Ventures, True Ventures LP, SevenX Ventures Ltd., Amir Shevat from Darkmode Capital and Joe Beda, co-creator of Kubernetes. As part of the deal, Blockchain Capital Partner Kinjal Shah is joining Bluesky’s board.

Along with increasing its user base, enhancing its developer systems and building out features, Bluesky will use some of the funding to develop a subscription model for features such as higher-quality video uploads or profile customizations like colors and avatar frames.

“Bluesky will always be free to use — we believe that information and conversation should be easily accessible, not locked down,” Bluesky said in a blog post. “We won’t uprank accounts simply because they’re subscribing to a paid tier.”

Along with the funding news, Bluesky also provided details about their advancements and features since last raising funding in July 2023.

The platform has grown from an invite-only app with 1 million users to more than 13 million users globally, expanding its reach across countries such as the U.S., Brazil, Japan and the U.K. Additionally, Bluesky launched federation capabilities that enable self-hosting for developers and individuals, and introduced custom feeds that give users control over their algorithmic experience.

It has also focused on enhancing user safety through investments in anti-harassment tools and the launch of Ozone, an open-source moderation tool. Other notable updates include the introduction of direct messaging, video support and partnerships with companies such as Buffer and Namecheap to expand its integration capabilities.

Image: Bluesky

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