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The security startup, CertiK has raised $61 million in two months and more than $70 million since its founding. CertiK's early supporters include Tiger Global, Coatue Management, Shunwei Capital, and Coinbase Ventures.
CertiK Raises $24 Million In Investment From Tiger Global
Tiger Global and GL Ventures co-led the investment round, which follows the successful introduction of Skynet Premium, an active monitoring platform for DeFi apps.
Skynet has tracked over 2 million smart contract addresses and 2 billion on-chain transactions since its launch.
CertiK claims to have served over 1,300 enterprise clients up to this point. During this time, their platform has discovered over 23,000 vulnerabilities in blockchain code.
Security flaws are nothing new in the Bitcoin world. Because of the enormous quantities of money involved, crypto in general and DeFi, in particular, are drawing more sophisticated attackers, as the recent Poly Network incident revealed.
CertiK, A Blockchain Security Startup, Raises $37 Million To Tackle Defi And Crypto-threats
The cryptocurrency market value surpassed $2 trillion for the first time since May last week, underscoring the monetary consequences of concerted attacks on the industry.
“We are delighted to enhance openness in the area by offering the tools and resources – including our official audit reports – so that the community can make sense of critical security information,” said CertiK co-founder Professor Ronghu Gu.
Blockchain security, according to Kai Jiang, a partner at Coatue Management, is becoming increasingly critical as the DeFi revolution unfolds:
“Over the previous 18 months, decentralized finance has expanded dramatically, providing millions of individuals with novel financial tools and savings solutions. Security is critical in an age of fast innovation.”
CertiK is a security firm that offers real-time insights into the security of DeFi apps. The Skynet technology of the firm monitors over 2 million smart contract addresses and over 2 billion on-chain transactions. CertiK has secured $48 million in financing since 2018.