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Blockchain Security Firm CertiK Announces $24M Series B+ Led by Tiger Global

By: CertiK via Business Wire

August 17, 2021 at 08:00 AM EDT

In less than one month, CertiK closes a second fundraising round, bringing its total fundraising efforts to over $70M. This comes as CertiK enters a phase of hyper growth and recognition as blockchain’s leading security firm.

CertiK, the global leader in blockchain security, today announced a $24 million Series B+ funding round from Tiger Global and GL Ventures. This funding round complements the launch of Skynet Premium and follows on the heels of the $37M Series B announced in July, which brought on Coatue Management, Shunwei Capital, and Coinbase Ventures.

“The meteoric rise of decentralized finance has given millions of people the opportunity to become their own bank,” said Pengfei Wang, partner at Tiger Global. “Yet for the innovations to be fully trusted, security must be the focal point. We’re proud to support CertiK in raising the standards of security with the rollout of Skynet Premium. The product pioneers a novel and critical sector of the market: antivirus for blockchain.”

The launch of Skynet Premium brings to market the industry’s first active-monitoring platform, enabling real-time alerts on live smart contracts that have already been deployed. Skynet Premium’s threat detection model utilizes machine learning to evolve in lockstep with the constantly shifting smart contract risk environment, growing evermore advanced as it encounters new threats and vulnerabilities.

Skynet Premium runs 24/7, automatically scanning all client repositories and smart contracts against its continuously expanding library of threat definitions. Utilizing a vast set of on-chain and off-chain signals – including social sentiment, privileged governance controls, market volatility, and suspicious transaction data – the platform provides a publicly available feed of security scores for each project on the Security Leaderboard. The Premium platform includes an analytics dashboard which enables enterprise clients to monitor and manage their risk in real-time.

CertiK's parabolic growth has not gone unnoticed. The firm was awarded “Security Project of the Year” at the 2021 Binance Smart Chain Awards, in recognition of CertiK's work to audit hundreds of projects, protect millions of dollars of user investments, and raise the level of information accessibility and transparency on BSC.

The Series B+ funding round and release of Skynet Premium are the latest milestones on CertiK’s ambitious roadmap to elevate the security of blockchain technologies. CertiK has collectively served over 1300 enterprise clients, protected over $90 billion worth of digital assets, and detected over 23,000 vulnerabilities in blockchain code. The firm achieved profitability in 2020 and has utilized its expanding revenues and investor funding to develop even more advanced security infrastructure, release new product lines in adjacent markets, and prepare its global workforce for scale. With a remote-friendly company culture, CertiK expects its global headcount to triple in the next year, becoming one of the largest employers in the blockchain industry.

ABOUT CERTIK

CertiK’s mission is to secure the cyber world. Starting with blockchain, CertiK applies cutting-edge innovations from academia into enterprise, enabling mission-critical applications to be built with security and correctness. Headquartered in New York City, CertiK was founded by computer science professors of Yale University and Columbia University. CertiK is backed by industry leaders, including Tiger Global, Hillhouse Capital, Coatue Management, Shunwei Capital, Binance, Coinbase Ventures, Lightspeed Venture Partners, IDG Capital, and more.