Insight Partners, Tiger Global, and Advent International led the latest funding round
CertiK founder and CEO Ronghui Gu. (Credit: Business Wire)
CertiK, a New York-based Web3 and blockchain security company, has raised $88m in a Series B3 financing round to take its valuation to $2bn.
The funding round is led by Insight Partners, Tiger Global, and Advent International.
Goldman Sachs and existing investors that include Lightspeed Venture Partners and Sequoia also took part in the Series B3 round.
Insight Partners managing director Steve Ward 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-round 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.”
CertiK has doubled its valuation in the space of three months since its last round of funding. The Series B3 round is the fourth round of capital secured by the company in the last nine months, providing it with a total of $230m.
So far, the company claims to have safeguarded more than $300bn worth of crypto assets for more than 3,200 enterprise clients. Its auditing service are said to offer pre-deployment auditing and formal verification for blockchain protocols, smart contracts, and Web3 apps.
CertiK’s Skynet product offers 24/7 on-chain active monitoring of security threats.
The company will use the proceeds from the Series B3 round and the revenue earned from Know Your Customer (KYC), Skynet, and Security Leaderboard services for developing and operating more innovative and data-driven security products.
CertiK founder and CEO Ronghui Gu said: “Given increasing trends in rug-pulls, we now see KYC playing an important role in Web3 security.
“KYC, together with Smart contract auditing and 24/7 monitoring of threats, will further strengthen our offer around end-to-end Web3 security services.”