CertiK Raises $88 Million at $2 Billion Valuation

CertiK is a web3 and blockchain security startup that leverages formal verification technology to mathematically ensure security in systems software. The innovations of the company are applied from academia to the enterprise, thus making mission-critical applications be built with security and correctness.

The funding round was led by Insight Partners, Tiger Global, and Advent International. Among other participants were Goldman Sachs, Sequoia Capital, and Lightspeed Venture Partners. The money raised will be used for new products development and the development of “a one-stop security platform for the entire web3 world.”

CertiK, New York, was founded by Ronghui Gu, Zhong Shao in 2018. It is said that demand for blockchain security only increases as exploits and fraud in the crypto sector are widespread. The company still does not touch money raised in the past four rounds, as it is profitable itself. “This industry is still young and different from Web 2.0. The web3 world has a small group of developers who may not be able to always secure the software or code and that’s why the industry is facing cyber risks,” Ronghui Gu. As of now, CertiK has already protected more than $300 million of crypto assets for 2500 clients, using auditing and fraud investigation services.

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