Blockchain Security Firm CertiK Secures $88M From Investors-Backed by Goldman Sachs

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Blockchain security outfit, CertiK has secured as much as $88 million in an oversubscribed Series B3 funding round led by Insight Partners, Tiger Global, and Advent International. As announced by the New York-based startup, major multinational financial giant, Goldman Sachs, which launched OTC options trading for Ethereum this week, also joined in this round alongside Sequoia and Lightspeed Venture Partners.

The support for CertiK stems from the startup’s role in the blockchain ecosystem as a security watchtower to prevent hacks and other prevailing security breaches in the space. This year alone, more than $1 billion worth of funds have been stolen from blockchain startups ranging from over $600 million from the Ronin Bridge as well to targeted exploits on Wormhole, Qubit Finance, and Meter.io.

CertiK develops solutions such as its Skynet surveillance tool as well as its new KYC solution to help protocols affiliated with it wade off threats. 

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Since its inception, the startup has helped to protect as much as $300 billion worth of crypto assets for well over 3,200 enterprise clients. Based on what it offers, CertiK’s products are now in high demand and account for the support it has received from the listed investors thus far.

“CertiK is a mission-critical blockchain cybersecurity platform in a massive market and has already become a clear leader in the industry with a high-quality product that provides all-round security for blockchain, smart contracts, and Web3,” said Steve Ward, Managing Director at Insight Partners. “We look forward to partnering with CertiK’s best in class founding team, complete with a team of leading crypto security thought leaders as they continue to grow and Scale-Up.”

CertiK to Continue to Bolster Blockchain Security

Drawing on its latest funding round, CertiK revealed that it is committed to bolstering its blockchain security and infrastructure to allow more comprehensive coverage for protocol seeking its coverage, by limiting the centralization risks that stir the DeFi vulnerabilities across the board

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Combining its revenue from its broad solutions as well as the latest funding, the security outfit said it will continue with the development and operation of more innovative and data-driven security products. 

“Given increasing trends in rug-pulls, we now see KYC playing an important role in Web3 security,” said CertiK Founder and CEO, Ronghui Gu. “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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