A blockchain security business, CertiK, has reached a $2 billion valuation in a fresh investment round, as rise in crypto fraud highlights the need for more security and safety.
In a Series B3 round, the company raised $88 million. The investment was co-led by Insight Partners, Tiger Global, and Advent International, with participation from Goldman Sachs, Sequoia Capital, and Lightspeed Venture Partners.
Three months ago, CertiK received $80 million in a Series B2 fundraising round at a roughly $1 billion value.
CertiK co-founder Ronghui Gu informed that it was prompted by the company’s expanding income and demand for its services. CertiK claims that its sales jumped 12 times last year, while profits climbed 3,000 times. Gu refused to provide specific figures since CertiK is a privately held corporation.
CertiK, located in New York, examines smart contracts of blockchain projects to guarantee they are safe to launch and operate. Hacks and exploits are widespread in the crypto world. According to CertiK, thieves stole over $1.3 billion in crypto assets last year. Over $1 billion in cryptocurrency has already been destroyed this year as a result of significant assaults such as the Ronin Network and Wormhole.
