- CertiK — a leading global blockchain security firm headquartered in New York — recently announced the completion of an $80 million Series B2. These are the details.
CertiK — a leading global blockchain security firm headquartered in New York — recently announced the completion of an $80 million Series B2 financing round. This investment is led by Sequoia with participation from existing investors including Tiger Global, Coatue Management, and GL Ventures (Hillhouse Capital’s VC arm). This not only sets the bar for the largest single round of fundraising in the blockchain security space, but now it brings CertiK’s valuation to nearly $1 billion. This is the third round of capital raised by CertiK within 4 months, altogether totaling just over $140 million.
There has been a substantial increase in demand for blockchain security in the past few years – mostly driven by recent blockchain hacks, and stolen cryptocurrency. In 2021, $1.3 billion in cryptocurrency was lost to hacks, exploits, and scams – a large increase from the over $500 million dollars lost in 2020.
CertiK also experienced incredible growth over the past year, increasing revenues by 20x and its headcount by 4x. To date, CertiK has provided security products and services to over 1,800 clients, detected over 31,000 vulnerabilities in blockchain code, and protected over $310 billion worth of digital assets.
Along with blockchain and smart contract auditing and formal verification through its Security Leaderboard platform, CertiK launched Skynet, the first 24/7, active-monitoring platform. And Skynet monitors and protects smart contracts as well as blockchains against sophisticated security threats. As the security threat landscape continues to evolve, Skynet’s strategy is to utilize large amounts of on-chain and off-chain machine learning data. With this data, Skynet can adapt and evolve to protect smart contracts and blockchains against new threats.
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