With over 1,000 clients and $70B in digital asset value secured, CertiK’s exponential growth continues, bringing its total funding to over $48M since 2018.
CertiK, the global leader in blockchain security, today announced a $37M Series B funding round co-led by Shunwei Capital and Coatue Management, with participation from Coinbase Ventures. This is the largest single round of fundraising in the blockchain security space, adding to CertiK’s list of notable backers, which include IDG Capital, Binance, Lightspeed Venture Partners, Yale University, and others.
Founded in 2018 by professors of Yale University and Columbia University, CertiK is a pioneer in blockchain security, utilizing best-in-class AI technology to audit and monitor blockchain protocols and smart contracts. Since closing $11M in funding just under a year ago, CertiK has worked with over 600 new clients, resulting in profitable H1 2021 revenues that have more than quadrupled the revenue of the full 2020 year. CertiK has rapidly grown to become the trusted market leader, with over $70 billion worth of digital asset value, including leading projects such as Aave, Polygon, Binance Smart Chain, Terra, Yearn, and Chiliz.
After several years of rapid expansion, CertiK has earned its position as a global leader in the field of blockchain security. Shunwei is very optimistic about CertiK’s future. “With the unprecedented development of blockchain technology, the security side of the industry has become more important than ever. CertiK’s range of SaaS products provides stronger and more comprehensive security for smart contracts, and as a result, the future of the industry. We’re confident that CertiK will continue to leverage its technical advantages, recruit global talent, integrate blockchain industry resources, and ultimately become an industry unicorn,” said Tian Cheng, a partner at Shunwei Capital.
In addition to code auditing, CertiK offers an advanced platform, Skynet, that leverages on-chain and off-chain data – including social sentiment, privileged governance controls, market volatility, suspicious transactions, and more – to provide real-time insights into the security of DeFi applications. To date, Skynet has monitored over 2 million smart contract addresses and more than 2 billion on-chain transactions. Skynet aggregates these signals into individual security scores, publicly ranking projects on the Security Leaderboard to foster accountability. This free-to-use platform enables crypto users to perform in-depth analysis on their favorite projects, alleviating the centralized role of security auditors.
“The power of blockchain boils down to the power of the people,” said CertiK co-founder Professor Ronghui Gu. “We’re proud to advance transparency in the space by providing the tools and resources – including our official audit reports – so the community can make sense of vital security information.”
NYC-based CertiK is one of the fastest-growing startups in the blockchain security space. The funding will be used to accelerate the development of innovative products, deepen end-to-end security capabilities, and expand the team with additional world-class talent. Since Q1 2020, CertiK’s team size has more than doubled, and this rate of growth will continue in 2021, creating a highly effective, remote-friendly culture with talent located worldwide.
ABOUT CERTIK
CertiK’s mission is to secure the cyber world. Starting with blockchain, CertiK applies cutting-edge innovations from academia into enterprise, enabling mission-critical applications to be built with security and correctness. Headquartered in New York City, CertiK was founded by computer science professors of Yale University and Columbia University. CertiK is backed by industry leaders, including Coatue Management, Shunwei Capital, Binance, Coinbase Ventures, Lightspeed Venture Partners, IDG Capital, Legend Star, Wing, DHVC, and more.
