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Jafrin Ahmed
Apr 23, 2022
by Jafrin Ahmed

Web3 Security Firm CertiK Closes Additional $60M Funding

CertiK $60 million
Web3 security firm CertiK raised an additional $60 million just two weeks after it announced an $88 million Series B3 round at a $2 billion valuation. The additional funding brings the total amount invested in CertiK over the past nine months to $290 million.

The new round is an extension of the Series B3 round where SoftBank Vision Fund and CertiK's existing investor Tiger Global were the only two backers involved. It was SoftBank's first investment in a blockchain security firm, according to CertiK.

The growing demand for Web3 security has driven the need for more innovative and data-driven security products for the blockchain industry.

For instance, demand for blockchain security already remains high this year, following over $1.3 billion 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.

CertiK is meeting these demands through innovative products like Security Leaderboard, Code Auditing, and Skynet, a 24/7 threat monitoring service. The firm also recently launched its KYC and fraud detection service in response to the growing trend around project rug-pulls and scams.

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CertiK Additional Funding CertiK SoftBank
Web3 Security Firm CertiK Closes Additional $60M Funding
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.