CertiK, the smart-contract security auditor, raises $88 million at a $2 billion valuation

CertiK, a startup focused on security auditing of smart contracts, raised $88 million at a $2 billion valuation. The Series B3 funding round was led by Insight Partners, Tiger Global and Advent International.

We are proud to announce we have just finished our B3 round of funding with a valuation of $2 Billion, just three months after our B2 round 🎉

Huge thanks to our investors including @insightpartners, Tiger Global, @adventintl, @GoldmanSachs, and more. https://t.co/BUZzacxvKR

— CertiK (@CertiKTech) April 7, 2022

Goldman Sachs, Sequoia Capital and Lightspeed Venture Partners also contributed investments.

In December 2021, CertiK attracted $80 million at a valuation of $1 billion. In the last nine months, the firm conducted four rounds totaling $230 million.

According to CertiK’s CEO, Ronhuya Gu, the funds пойдут on turning the project into a “universal security platform for the entire Web 3.0 world.”

The startup expects sustained high demand for its services. For January–March, the company’s revenue rose fourfold, and for 2021 overall by twelvefold. CertiK did not disclose specific figures.

The amount of DeFi ecosystem funds stolen in 2021 amounted to $1.3 billion. Since the start of 2022 the figure has already reached $1.22 billion — as a result of incidents related to Ronin Network, Wormhole, Qubit Finance and Meter. The company expects further attacks, mainly through cross-chain bridges and flash loans.

Representatives also pointed to the rising number of scams and rug pulls; to counter this, CertiK launched an investigations unit and a KYC product.

Earlier, OpenZeppelin specialists remedied a vulnerability in the code of the DeFi project Convex Finance, which could have led to a $15 billion loss.

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