Blockchain Certik theblock 80m series b2 security company CertiK has raised $80 million in a Series B2 financing round. The company has helped secure over $211 billion in digital assets and claims to have discovered over 31,000 vulnerabilities in blockchain code. The technology also helps prevent the spread of malware and phishing. It is a critical component of decentralized finance, which heavily relies on smart contracts. Its platform protects decentralized assets from theft, fraud, and other threats.
CertiK raises $80 million in Series B2 financing round
Blockchain security firm CertiK raised $80 million in Series B2 funding round, making it the largest funding round in blockchain security so far. Founded in 2018, CertiK has raised more than $140 million in total funding to date. The company’s mission is to secure the decentralized financial world through the use of blockchains and smart contracts. Its recent funding round will allow it to expand its services and add security benefits to existing blockchain projects.
The latest funding round led by a Chinese investment firm, Sequoia Capital China, brings the total amount raised by CertiK to nearly $1 billion. The latest financing round was led by Sequoia Capital China, with existing investors participating. The company has raised three funding rounds in just over four months, generating a total of $140 million in funding. The latest round comes as CertiK seeks to expand its team in Asia and expand its product offerings.
The latest round also includes $15 million from Westlake Therapeutics, a company whose founders were accused of unfairly using seed-fund deal flow. The company aims to use the funds raised to expand its security and privacy services. Its clients include the world’s largest cryptocurrency exchanges, the biggest banks and financial institutions, and many more. It is expected to grow to become the one-stop security vendor for enterprise customers.
The Series B2 financing round follows an aggressive hiring program. The company is adding key talent across the organization, including a new Vice President of Engineering. Dr. Tarditi brings 16 years of experience leading development teams. In addition to being an acclaimed inventor, he has held 22 patents. In addition to Tarditi, CertiK has also added Monier Jalal as Vice President of Marketing.
The new capital will allow CertiK to expand its existing products. It also plans to add more features to its security products, such as graphical traces of suspicious activity. Currently, the company employs 130 people, and it is currently hiring for various positions. Despite the recent funding, CertiK has been profitable since last year and plans to continue to expand its team as it continues to grow.
In the past year, CertiK has experienced tremendous growth. It now serves over 2,500 enterprise clients and has protected more than $310 billion in crypto assets. The company recently hired Dr. David Tarditi as engineering vice president. This is just one example of the company’s rapid growth. Its vision is to secure the entire crypto world. And the team behind it is making it possible.
The company has detected over 31,000 vulnerabilities in blockchain code
A security firm focused on blockchains has announced it has detected over 31,000 vulnerabilities in the code of more than 1,800 blockchain projects. The company has worked with over 3,200 Enterprise clients and helped secure over $310 billion in digital assets. CertiK’s product includes blockchain security audits that identify weaknesses in smart contract code. Investors in the company include Insight Partners, Sequei Capital, Danhua Capital, and others.
The DAO hack was a prime example of how a weak spot can be hidden in an unobvious place. For example, a flaw in a library that contains a withdraw function was exploited to steal $30 million in crypto from five73 wallets. Despite the security flaw being extremely low-level, it is a significant vulnerability. The hack has a large impact.
It has protected over $310 billion worth of digital assets
As the crypto industry continues to suffer losses due to hacking and exploits, the demand for a secure solution for blockchain has increased significantly. Recent hacks and thefts of cryptocurrency have raised the specter of a massive security breach in the industry, with estimates of $1.3 billion in losses expected by 2022 and $500 million by 2020. Since the launch of its security products, CertiK has experienced exponential growth in just one year, with revenues doubling and headcount doubling. The company has served over 1,800 clients and discovered over 31,000 blockchain vulnerabilities, helping to secure over $310 billion in digital assets.
Certik’s mission is to secure the crypto world by building security solutions for blockchains and smart contracts. Their solutions are aimed at accelerating the adoption of new technologies and promoting innovation. As a result, CertiK is committed to helping crypto companies ensure the security of their digital assets. Its new solutions will secure decentralized applications end-to-end and keep them from falling victim to hacking.
CertiK is a blockchain and smart contract security company headquartered in New York. The company has raised a total of $230 million. The Series B2 funding round was led by Sequoia Capital China and includes investments from existing investors including Tiger Global and Coatue Management. In addition, the company also received funding from GL Ventures, an arm of Hillhouse Capital.