Bitcoin News and Finance
Web3 Security Firm Certik Raises $88 Million in Series B3 Financing Round Led by Tiger Global and Others Skip to main content

Web3 Security Firm Certik Raises $88 Million in Series B3 Financing Round Led by Tiger Global and Others

Certik

Certik, a Web3 and blockchain auditing and security firm, has raised $88 million in its recent B3 funding round. The round, which was led by Tiger Global and included Goldman Sachs as an investor in the firm, gives the company a valuation of $2 billion. This doubles the valuation that Certik reached via its last funding round in November 2021.

Certik Reaches $2 Billion Valuation

Certik, a blockchain auditing firm, has closed its Series B3 financing round with a significant increase in investments. The company raised $88 million, with Tiger Global, Insight Partners, and Advent International leading the round, and with the participation of Goldman Sachs and other current investors.

With this funding round, the company has managed to reach a valuation of $2 billion, doubling the numbers it obtained in its Series B2 funding round in November 2021, which gave it a valuation of $1 billion.

Regarding how the company has managed these funding rounds and their successes, Ronghui Gu, founder and CEO of Certik, told Techcrunch:

We have raised four rounds in the past nine months and the valuation has grown more than 10 times. We haven’t touched any money in the past four rounds. The money is in the bank and the reason is because CertiK is a profitable business.

The firm attributes this growth to the importance that blockchain security and pre-deployment audits have taken on now that there have been massive hacks and exploits involving bridges, like the one that Sky Mavis’ Ronin Network faced recently. In total, more than $1 billion has been lost in these attacks.

New Deployments and KYC Coming

While the company already offers various products for groups that want to secure their blockchain deployments, there will be more of these products in the future, whose aim will be to simplify the security setup of Web3 ecosystems.

Part of the funds raised will go to the construction of “a one-stop security platform for the entire Web3 world,” and other products. Certik’s signature platform, called Skynet, which offers surveillance for attacks on smart contracts, had reported revenue growth of more than 2,000% by November 2021.

The company is also putting special emphasis on KYC for the future of the Web3 space. In the press release announcing the new raise, the company declared:

CertiK recently launched its Know Your Customer (“KYC”) and fraud investigation service this year. Certik believes KYC is the missing link in most competitive offers for helping prevent malicious intent i.e., rug-pulls, by owners of a project.

What do you think about Certik’s Series B3 funding round? Tell us in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory