Blockchain Firm CertiK raised $88M in Series B3 at $2B Valuation

Today, Tiger Global and SoftBank Vision Fund 2 unveiled a USD 60 million financing in CertiK, the top global Web3, and blockchain security company. The entry of SoftBank into the Web3 security market is a first. Recently, the $88 million series B3 round and $2 billion estimate of CertiK, headed by Insight Partners, were disclosed. With this fresh finance, CertiK has received USD 290 million in investments during the last nine months.        

The goal of CertiK is to safeguard the Web3 globe by offering consumers a one-stop store for all of their security requirements via an end-to-end set of security services. Following the loss of over USD 1.3 billion in cryptocurrency assets to cybercriminals in 2021, the desire for industry-leading blockchain security is still high in 2022. The sector lost more than $1 billion in bitcoin in the first quarter alone this year as a result of four significant bridge breaches, and more than $200 million as a result of numerous rapid loan threats.

According to Dennis Chang, Managing Partner at SoftBank Investment Advisers, “We think CertiK offers businesses a pioneering solution in blockchain security and auditing by combining extensive expertise in cybersecurity, blockchains, and systems verification. We are honored to collaborate with Professor Gu and the team to help them achieve their goal of protecting the Web3 globe.

The need for more advanced and data-driven security products for the blockchain sector has been spurred by the rising need for Web3 security. Through cutting-edge technologies like Security Leaderboard, Code Auditing, and Skynet, a round-the-clock threat monitoring service, CertiK can meet these needs. Additionally, CertiK recently introduced its KYC and fraudulent detection service in reaction to the rising prevalence of project fraud and rug-pulling.

“With this follow-up to our most recent round of transactions, we are extremely happy. These insights highlight the significance of web3 security even more and will help us safeguard the blockchain sector and foster confidence among the community of crypto projects, according to Ronghui Gu, founder, and CEO of CertiK. Cross-chain attacks, flash loans, rug pulls, and other incidents have shown the necessity for end-to-end web3 security, which we’re happy to be able to provide.

The goal of CertiK is to protect the Web3 environment. With blockchain as a starting point, CertiK integrates cutting-edge academic discoveries into Enterprise, making it possible to develop mission-critical solutions with precision and security. Ronghui Gu and Zhong Shao, both professors of computer science, founded CertiK, which has its main office in New York City.