CertiK, a blockchain security company, received an extra $60 million less than two weeks after announcing an $88 million Series B3 round at a $2 billion valuation.
Ronghui Gu, co-founder of CertiK, said that the latest investment is an expansion of the Series B3 round due to investor demand. “Series B3 is oversubscribed. Considering the enthusiasm of investors, we managed to facilitate this extension, “he said.
According to Gu, the only two investors who participated in the extended round are SoftBank Vision Fund and CertiK’s current investor, Tiger Global. According to CertiK, this was SoftBank’s first investment in a blockchain security business.
The price of CertiK has more than doubled in three months as the number of crypto hacks has increased, highlighting the need for security.
So far this year, big DeFi attacks such as the Ronin Network and Wormhole have resulted in the loss of more than $1 billion in cryptocurrency. Even after projects have been examined by companies such as CertiK, attacks have happened.
According to Gu, a CertiK audit is neither a “certificate” or an “endorsement that a project is secure” from hackers. It is just a report on vulnerability findings and suggestions.
CertiK intends to use the new funds to grow its products and personnel. The firm’s current staff is over 200, and it has many unfilled roles, including those in engineering and business development. CertiK’s total financing to date exceeds $300 million, thanks to the Series B3 expansion round.
