The company CertiK has just raised $80 million, funds that will allow it to continue developing solutions to secure smart contracts. This is good news, as hacks continue to multiply in the DeFi sector
CertiK raises $80 million
This new financing was announced on Wednesday, December 1st. CertiK, a company specialising in the auditing of decentralised finance protocols (DeFi), has raised $80 million in a Series B2 funding round. This brings the total valuation of the US company to over $1 billion. The round was led by Sequoia Capital and involved several high-profile investors, such as Tiger Global, Coatue Management and GL Ventures.
Exciting News
We have recently closed an $80M, Series B2 round of financial funding
This is not only the single largest round of fundraising for a company in the blockchain security space, but now brings CertiK’s total valuation to nearly $1 Billion️https://t.co/54YBxyrgUE
– CertiK (@certik_io) December 1, 2021
CertiK is a company that performs security audits of blockchain-based projects. In other words, it analyses the code of smart contracts to identify and eliminate potential flaws in the protocol. These are then listed directly on the CertiK website, along with an audit report that is accessible to all.
In just six months, the American company has raised more than 140 million dollars. Indeed, this funding campaign comes just three months after the previous one, which enabled CertiK to raise $24 million.
Purpose: to secure the ecosystem
The timing of this fundraising campaign seems right. And for good reason, hacks in the DeFi sector have been multiplying lately. Over the course of 2021, CertiK reports over $1 billion worth of cryptocurrencies lost or stolen due to scams. That’s about twice as much as in 2020.
As a result, CertiK has seen an increase in demand for security audits from DeFi protocols. The American company is not hiding the fact that business is good. In the past year, the company has increased its turnover by a factor of 20 and the trend shows no signs of slowing down.
Thanks to this financing campaign, CertiK and its CEO, Ronghui Gu, want to continue developing new features to expand the range of security products. In fact, the previous round of funding enabled the launch of Skynet, a new 24/7 automatic monitoring platform. It detects suspicious on-chain activity, such as flash loan attacks.
CertiK’s mission is to secure the cryptocurrency world, end-to-end, throughout the life cycle of smart contracts and blockchains,” said Ronghui Gu, co-founder of CertiK.
To date, CertiK claims to have provided its services to more than 1,800 clients, detected more than 31,000 vulnerabilities in smart contracts and protected more than $310 billion in user assets.
