CertiK, the Leading Web3 Security Company, Doubles Its Valuation to $2 Billion
CertiK, the leading global Web3, and blockchain security firm headquartered in New York, announced the completion of an oversubscribed $88 million Series B3 financing round led by Insight Partners, Tiger Global, and Advent International, with participation from Goldman Sachs and existing investors such as Sequoia and Lightspeed Venture Partners.
This latest funding now brings CertiK’s valuation to $2 billion in just 3 months since its last round of funding. This is the fourth round of capital raised by CertiK in the past nine months, altogether totaling $230 million.
Founded in 2018, New York-based CertiK audits smart contracts of blockchain projects to ensure they are secure to launch and use. Hacks and exploits are commonplace in crypto. Last year, over $1.3 billion in crypto assets were lost to cybercriminals, according to CertiK. This year thus far, over $1 billion in crypto has already been lost due to major attacks such as Ronin Network and Wormhole.
CertiK’s mission is to secure the Web3 world. It delivers on this mission through an end-to-end set of security services, providing clients with a one-stop-shop for all their security needs. To date, CertiK has protected over $300 billion worth of crypto assets for well over 3,200 enterprise clients.
CertiK’s leadership and tremendous growth have already been widely recognized by the industry. In March 2022, CertiK received awards for the CB Insights Blockchain 50 award – listed as the only blockchain security firm, and the Globee Awards – Cybersecurity Global Excellence Award.
Steve Ward, Managing Director at Insight Partners said:
“CertiK is a mission-critical blockchain cybersecurity platform in a massive market and has already become a clear leader in the industry with a high-quality product that provides all-around security for blockchain, smart contracts, and Web3. “We look forward to partnering with CertiK’s best in class founding team, complete with a team of leading crypto security thought leaders as they continue to grow and Scale-Up.”
Eric Noeth, Partner at Advent International said:
“We are excited to invest in CertiK as a leader in developing critically needed cybersecurity solutions for the Web3/DeFi market.” “The decentralized Internet that runs on the blockchain has experienced high levels of security breaches and is in dire need of the kind of effective solutions that CertiK provides. We look forward to partnering with the CertiK team as it continues its tremendous momentum in making blockchains safer and more performant while also providing consumers with much-needed visibility into security considerations across new and existing projects.”
Oli Harris, Managing Director, Goldman Sachs said:
“Goldman Sachs is excited to be an investor in CertiK, a leading security platform for the blockchain and Web3 ecosystem.” “As we see continued growth in use cases and assets on decentralized applications the solutions being built by CertiK will be integral to securing the ecosystem, helping to accelerate innovation and adoption of these novel technologies.”
This new round of funding, coupled with revenue generated from KYC, Skynet, and Security Leaderboard services, will be used for the development and operation of more innovative and data-driven security products. “Given increasing trends in rug-pulls, we now see KYC playing an important role in Web3 security,” said CertiK Founder and CEO, Ronghui Gu. “KYC, together with Smart contract auditing and 24/7 monitoring of threats, will further strengthen our offer around end-to-end Web3 security services.”
About CertiK
CertiK’s mission is to secure the Web3 world. Starting with blockchain, CertiK applies cutting-edge innovations from academia into Enterprise, enabling mission-critical applications to be built with security and correctness. Headquartered in New York City, CertiK was founded by computer science professors Ronghui Gu and Zhong Shao. CertiK is backed by industry leaders, including Insight Partners, Tiger Global, Sequoia, Coatue Management, Advent International, Goldman Sachs, Lightspeed, Hillhouse Capital, Binance, Coinbase Ventures, and more.
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