Security auditing firm CertiK pushes its valuation to $ 2 billion

$ 2 billion for CertiK

The platform CertiKrenowned for his security audits in the blockchain ecosystem, he just saw his valuation to reach $ 2 billion following a fundraiser reaching 88 million dollars.

The round table took place in under a series B3 loan. The key figures for this funding are investors Insight Partners, Advent International and Tiger Global Management, who also led the recent round of NEAR Protocol just a few days ago.

You will also notice the presence of the investment bank Goldman Sachs among other investors, along with Sequoia Capital and Lightspeed Ventures Capital, among others.

This new capital injection follows CertiK’s previous fundraiser last December, which became a unicorn following an $ 80 million grant. The company has thus seen its valuation double in the space of 3 months.

Ronghui Gu, one of the co-founders of CertiK, said in an interview that requests for security audits have increased dramatically. According to him, CertiK has seen its revenue increase 12 times over the past year.

However, this is not surprising, in a context where a large number of protocols continue to suffer from hacks, and more particularly from cross-chain bridges. Hacks, in fact, have already claimed many victims in this first quarter of 2022, as shown by the example the recent theft of $ 620 million in the form of Ether and USDC on the Ronin sidechain.

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Security at the heart of the blockchain

Just like its blockchain security specialist counterparts, CertiK today deals with a central place in the development of various projects related to cryptocurrencies. The reasons are many, if only for obvious security justifications and to prevent possible violations. Decentralized Finance (DeFi) protocols are preferred targets today, especially due to their ample liquidity.

According to the press release relating to this new fundraiser, CertiK notes it Unfortunately, scams and scams are becoming more and more popularand that the first solution to remedy this concern could be a broader democratization of the process of ” Know your customer (KYC) “.

For the company, the key to a safer future will be transparency. This is the reason CertiK offers a ranking of the projects it has verified with related data, updated in real time.

At the time of writing these lines, Currently 1842 projects are listed in this rankingwith important figures in the sector such as Aave (AAVE), Polygon (MATIC), Terra (LUNA), Shibaswap and The Sandbox (SAND).

At the end, CertiK has also implemented Skyneta solution for the real-time analysis of smart contracts, the liquidity of decentralized exchanges (DEX), or which even allows you to identify flash loans thanks to an on-chain analysis tool.

Remember that in 2021 alone, more than In total, $ 1.3 billion was stolen in the blockchain world.

👉Read also: Sky Mavis raises $ 150 million after Ronin’s sidechain hack

Source: CertiK

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About the author: Massimiliano Prue

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Passionate about the world of decentralized finance and the news brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
All articles by Maximilien Prué.

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