Bluesky Raises $15M to Expand Decentralized Social App

Elliot Kim

Elliot Kim

October 24, 2024 · 2 min read
Bluesky Raises $15M to Expand Decentralized Social App

Bluesky, a decentralized social app, has raised $15 million in Series A funding, following an $8 million seed round last year. The investment comes as the platform experiences rapid growth, with 3 million new users added in the past month, bringing its total user base to 13 million.

The surge in popularity is partly attributed to users fleeing X, a platform that has faced backlash over recent changes to its block feature and allowing third-party AI training on public posts. Bluesky's decentralized approach, which allows individuals to set up their own social servers and apps, has resonated with users seeking a more transparent and community-driven social media experience.

The funding, led by Blockchain Capital, will support Bluesky's community growth, investment in trust and safety features, and development of a subscription model. However, the company has assured users that its paid tier will not offer exclusive features that compromise the user experience, unlike X's subscription model.

Bluesky's commitment to decentralization and user empowerment has earned it a loyal following, and this funding round positions the startup for further growth and innovation in the social media landscape.

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