CyberTech CertiK hits $2bn valuation with $88m Series B3

CertiK, a blockchain security startup, has raised $88m in a Series B3 funding round co-led by Advent International, Insight Partners and Tiger Global.

Also participating in the raise were Goldman Sachs, Sequoia and Lightspeed Venture Partners. Following this raise, CertiK has reached a valuation of $2bn.

Founded in 2018, CertiK claims to be a pioneer in blockchain security. Its AI technology is able to audit and monitor blockchain protocols and smart contracts.

Clients can use the technology to build applications with security and correctness at the heart. Its Skynet solution utilises on-chain and off-chain data to provide real-time insights into the security of DeFi applications.

The company claims it has already protected over $300bn in cryptocurrency and is well positioned to help firms prevent cryptocurrency losses which have already climbed over $1bn this year.

According to CertiK, it will use the new funding to build more security products as well as hiring new talent for its end-to-end product strategy.

CertiK founder and CEO Ronghui Gu said, “Given increasing trends in rug-pulls, we now see KYC playing an important role in Web3 security. KYC, together with Smart contract auditing and 24/7 monitoring of threats, will further strengthen our offer around end-to-end Web3 security services.”

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