Certik, which is a Web3- and Blockchain auditing, security and consulting firm has received $88 Million in its latest B3 round. This round was managed by Tiger Global, and Goldman Sachs participated as an investor. It gives Certik a value of $2 billion. This is more than twice the value Certik attained in November 2021’s last round of funding.
Certik Reaches $2 Billion Valuation
Certik, which is a blockchain-based auditing company, closed the Series B3 funding round. This resulted in a substantial increase in investment. This round saw the closing of $88 million in funding. The rounds were led by Tiger Global, Insight Partner, Advent International, and Insight Partners. Goldman Sachs was also involved.
The company’s valuation has increased to $2 billion with this round of funding. This is more than the $1 billion it received in the Series B2 round of funding in November 2021.
Ronghui Gu (founder and CEO of Certik) spoke to Techcrunch about how Certik has successfully managed its funding rounds.
In the last nine months, we have raised four rounds and our valuation has increased more than 100%. We haven’t touched any money in the past four rounds. CertiK’s profitable business means that the money is already in the bank.
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. These attacks have resulted in more than $1Billion being lost.
We are launching new deployments and KYC
Although the company currently offers several products for organizations that wish to protect their blockchain deployments and infrastructures, it will offer additional products over time. Their goal is to make security easier in Web3 environments.
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.
KYC will be a major focus of the company for future growth in the Web3 area. The company stated in a press release that the raise was being announced:
CertiK recently launched its Know Your Customer (“KYC”) and fraud investigation service this year. Certik thinks KYC is missing in the most competitive offers to help prevent malign intent, i.e. rug-pulls by project owners.
What do you think about Certik’s Series B3 funding round? Comment below.
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