Web3 Security Leader CertiK Doubles Capitalization to $2 Billion in Just Three Months

NEW YORK-()–CertiK, the New York-based global web3 and blockchain security leader, today announces that it has completed an oversubscribed $88 million Series B3 funding round. This investment is led by Insight Partners, Tiger Global, and Advent International, with participation from Goldman Sachs and existing investors like Sequoia and Lightspeed Venture Partners. This latest financing brings CertiK’s capitalization to two billion USD in just three months since its last financing round. This is the fourth round of capital raised by CertiK in the last nine months, representing a total of 230 million USD.

Blockchain security continues to see significant demand, which has generated substantial growth at CertiK as a category leader. After a substantial loss of 1.3 billion USD in cryptocurrencies in 2021, the year 2022 is already continuing on this trend, with losses that should be significantly greater than the previous year. Over the last three months, the crypto sector has suffered more than a billion USD in losses due to four major gateway attacks (Ronin Network, wormhole, Qubit Financeand Meter.io), as well as several flash loan attacks, two types of attacks that seem to be a trend this year.

CertiK’s mission is to secure the Web3 world. The company delivers on its commitments through a comprehensive set of security services to provide customers with a one-stop-shop for all their security needs. To date, CertiK has protected over $300 billion in crypto assets for over 3,200 corporate clients. CertiK’s auditing service provides pre-deployment screening and formal verification for smart contracts, blockchain protocols, web3 apps, while Skynet provides 24/7 active on-chain monitoring against security threats. CertiK also launched its Know Your Customer (“KYC”) and anti-fraud investigation service this year. CertiK believes that KYC is the missing link in the most competitive offerings to help protect against malicious intent, such as rug pulls, by project owners. In addition, CertiK’s ranking ensures transparency for its community and builds trust and visibility for the projects listed there.

CertiK’s products and services continue to see strong demand, supporting incredible revenue growth for the company. For the full year 2021, CertiK saw revenue grow 12x, and profit grow 3,000x. multiplied by 4. According to data from CoinMarketCapCertiK processes 60% of all referenced blockchain projects that use third-party security audit services.

CertiK’s leadership and considerable growth has already been widely recognized by the industry. In March 2022, CertiK received the CB Insights Blockchain 50 Award – as the only blockchain security company, and the Cybersecurity Global Excellence Award at the Globee Awards.

“CertiK is a critical blockchain cybersecurity platform in a considerable market, and has already become a clear leader with a high-quality product providing comprehensive security for blockchain, smart contracts and Web3,” said Steve Ward, Director CEO of Insight Partners. “We look forward to partnering with the exceptional founders of CertiK, and their team of recognized leaders in cryptographic security, to support them in their growth and scale. »

“We are excited to invest in CertiK as a leader in developing highly anticipated cybersecurity solutions for the Web3/DeFi market,” said Eric Noeth, Partner at Advent International. “The decentralized internet that runs on the blockchain has been subject to significant security breaches and is in dire need of effective solutions, such as those provided by CertiK. We look forward to working alongside the CertiK team as they continue their momentum of securing and optimizing blockchain performance, while providing consumers with much-needed visibility into security issues in the marketplace. all existing and future projects. »

“Goldman Sachs is pleased to have invested in CertiK, a leading security platform for the blockchain and Web3 ecosystem,” said Oli Harris, Managing Director, Goldman Sachs. “As we see continued growth in use cases and assets across decentralized applications, the solutions CertiK develops will be an integral part of securing the ecosystem, helping to accelerate innovation and adoption. of these innovative technologies. »

Coupled with revenue generated from KYC, Skynet, and Security Leaderboard services, this new round of funding will be used for the development and execution of more innovative and data-driven security products. “In view of the rising trends of rug-pulls, we now see that KYC service plays a fundamental role in Web3 security,” said Ronghui Gu, Founder and CEO of CertiK. “Know your customer, along with smart contract auditing and 24/7 threat monitoring, will strengthen our end-to-end Web3 security services offering. »

CertiK continues to recruit top product and development talent to help execute its end-to-end strategy. CertiK recently invested in the appointment of Kevin Liu as CertiK’s Chief Product Officer. Mr. Liu is a seasoned product and engineering executive with more than 20 years of international experience in the technology industry, particularly in media and telecom. Prior to joining CertiK, Kevin was a founding member of FreeWheel (a Comcast company), where he held various leadership positions including VP of Product and VP of Engineering. He also served as General Manager, China, and Advertising Technology Manager, at iflix. As Product Manager at CertiK, Kevin will oversee strategy across the company, building the foundation for blockchain application security initiatives, while providing insights for the community, project owners, and organizations. other stakeholders.

About CertiK

CertiK’s mission is to secure the Web3 environment. Beginning with blockchain, CertiK applies cutting-edge innovations from academic research to enterprises, enabling businesses to build mission-critical applications with precision and security. Based in New York, CertiK was created by computer science professors Ronghui Gu and Zhong Shao. CertiK receives support from industry leaders including Insight Partners, Tiger Global, Sequoia, Coatue Management, Advent International, Goldman Sachs, Lightspeed, Hillhouse Capital, Binance, Coinbase Ventures, and others.

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Web3 Security Leader CertiK Doubles Capitalization to $2 Billion in Just Three Months


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