- Certik will use the fund to build more secure and trustworthy security products for blockchain and crypto space.
- Founded in 2018 by professors from Yale University and Columbia University, Certik has raised $48 million so far, including $11 million funding round within the past year.
- CertiK has provided security audits to popular DeFi-related projects like Aave, Binance Smart Chain (BSC), Chiliz, Polygon, Terra, AND Yearn finance.
United States, July 15, 2021 /AlexaBlockchain/ – Blockchain security audit startup CertiK announced that it has secured $37 million in a Series B Funding round. This is the the largest single fundraising round in the blockchain audit space.
Certik’s Investors in Series B Round
The funding round was co-led by hedge fund Coatue Management and China-based venture capital firm Shunwei Capital. The funding round also gained investment from Coinbase Ventures.
Certik has raised $48 million so far since 2018, with a list of investors that includes Binance, IDG, Lightspeed Venture Partners, Yale University, Lenovo and others.
Demand For Blockchain Security Audits Growing
The demand for blockchain security audits are growing with the increasing incidence of hacks and attacks in the decentralized finance (DeFi) space. Experts also believes that attacks on DeFi platforms and protocols — particularly new ones — will rise. This is the reason blockchain security audit firms with trustworthy solutions are in great demand.
Professor Ronghui Gu, CertiK co-founder, sums up the impact of blockchain and CertiK:
“The power of blockchain boils down to the power of the people. We’re proud to advance transparency in the space by providing the tools and resources – including our official audit reports – so the community can make sense of vital security information.”
Certik has said that it has secured more than $70 billion of digital assets to date.
In addition to a security auditing service, Certik’s Skynet leverages on and off-chain data to provide real-time security insights. To date, Skynet has monitored more than 2 million smart-contract addresses and about 2 billion on-chain transactions, the company said.
Certik’s on-chain insurance alternative, CertiKShield, enables blockchain firms to protect funds from unexpected thefts.