It’s no secret that the cryptocurrency market is currently in the midst of an explosion of hype, and the team at CertiK, a leading developer of a new blockchain technology, has raised a staggering $88 million in Series B3 financing. This means that the company is one of the best-funded companies in the entire crypto ecosystem. In addition, the startup has a unique platform, which has helped it build a dedicated following of both institutional and individual investors.
CertiK raises $88 million in Series B3 financing
CertiK is one of the world’s leading blockchain security companies. Using best-in-class AI technology, the company helps enterprises safeguard their data and crypto assets. It offers audit and fraud investigation services, and serves over 2,500 enterprise clients.
The company has been growing rapidly over the past year. This includes launching a new service called Know Your Customer (KYC) this year, which helps businesses determine if their customers are who they say they are. During this period, the company also increased its revenue twelvefold.
In addition, the company has a team of over 200 employees and is looking to expand. They are hiring engineers and product leadership talent for multiple roles. Their products are also receiving strong demand.
The company recently added Kevin Liu, who has over 20 years of experience in the technology industry, as its Chief Product Officer. He previously served as COO of global investment operations at BlackRock. His experience will be used to help the company improve its product strategy.
As part of this round, CertiK also secured a $60 million investment from SoftBank Vision Fund 2. The funding was led by Goldman Sachs and Sequoia Capital, along with Lightspeed Venture Partners.
Other investors in the Series B3 financing include Tiger Global, Advent International, and Insight Partners. CertiK will use the proceeds to fund its product development.
Certik is a New York based startup that has raised $88 million in its recent B3 Series financing round. The company is a leading Web3 security firm that boasts more than 3,200 enterprise clients. Their flagship product is an active monitoring platform known as Skynet. Using machine learning data, it can protect users in a complicated blockchain network environment.
Having protected more than $300 billion in cryptocurrencies, Certik is one of the biggest names in the crypto space. They offer end-to-end security solutions, including smart contract auditing, KYC, fraud detection and other related services. As of late, they have also been credited with the largest single fundraising round in the cryptospace, a tally of nearly $88 million from fifteen investors. In fact, the firm is still adding to its roster of top-tier talent.
The CB Insights blockchain 50 award is a testament to this. Although Certik declined to provide details in its filing, it did mention their signature platform. One of the most important functions of this service is to monitor smart contracts and smart contracts in motion. Moreover, they are able to detect malicious activity in real time. This is an impressive feat in a challenging environment such as the blockchain.
Certik, the company behind the 88 million dollar B3 funding round recently announced the hiring of Kevin Liu, a well regarded tech exec with 20 years of experience in the global technology space. He will take on the title of chief product officer, a role that will help him develop a strategic roadmap to better securing the Web3 world.
In addition to being a crypto security company, Certik is also building a one-stop shop for Web3 security. This is done through the use of machine learning to make real-time, actionable intelligence from a large volume of data. The company’s signature product, Skynet, is an active monitoring and analysis platform that works in the background of your blockchain to ensure the security of your tokens.
In addition to building a formidable team, the company also made a splash by securing a prestigious Globee Award for cybersecurity excellence. They have more than 3,000 enterprise customers and have been making waves in the crypto space for years. Their product suite includes auditing services, a signature oriented surveillance solution, and a wide range of other offerings.
As the industry continues to evolve and grow, the need for innovative security products becomes more and more apparent. Specifically, the need for a pre-deployment auditing solution has become more important than ever.