CertiK, the leading global Web3 and blockchain security firm, has received an additional $60 million USD investment from SoftBank Vision Fund 2 and Tiger Global.
This marks SoftBank’s first venture into the Web3 security space. CertiK’s $88 million series B3 round and $2 billion valuation were announced within the past month, led by Insight Partners. This additional funding brings the total amount invested in CertiK over the past nine months to $290 million USD, the company said in a statement.
Headquartered in New York City, CertiK was founded by computer science professors Ronghui Gu and Zhong Shao.
CertiK’s mission is to secure the Web3 world through an end-to-end set of security services, providing clients with a one-stop-shop for all their security needs. Dennis Chang, Managing Partner at SoftBank Investment Advisers said:
“Adoption of Web3 is booming, but concerns around security are holding it back from reaching its full potential. “We believe CertiK combines deep expertise in cybersecurity, blockchains, and systems verification to provide companies with a leading solution in blockchain security and auditing. We are delighted to partner with Professor Gu and the team to support their mission of securing the Web3 world.”
Demand for industry-leading blockchain security remains high in 2022, following over $1.3 billion USD of crypto assets lost to cybercriminals in 2021. Within just the first quarter of this year, the industry experienced over $1 billion in cryptocurrency losses due to four major bridge attacks, and over $200 million in various flash loan attacks.
The growing demand for Web3 security has driven the need for further development and operation of more innovative and data-driven security products for the blockchain industry. CertiK is meeting these demands through innovative products like Security Leaderboard, Code Auditing, and Skynet, a 24/7 threat monitoring service. CertiK also recently launched its KYC and fraud detection service in response to the growing trend around project rug-pulls and scams. Ronghui Gu, CertiK founder and CEO said:
“We’re very pleased with this follow-up to our latest round of transaction. These contributions further underscore the importance of web3 security and will help us to further protect the blockchain industry, and build trust in the crypto project community. Events such as cross-chain attacks, flash loans, rug pulls and more have demonstrated the need for end-to-end web3 security that we’re proud to be able to offer, including smart contract auditing, 24/7 threat monitoring, and KYC.”