Blockchain security firm CertiK has completed an $80 million Series B2 financing round, bringing its valuation to nearly $1 billion.
The New York-based company said that this latest round of financing is led by Sequoia Capital, with participation from existing investors including Tiger Global, Coatue Management and Hillhouse Capital's venture capital unit GL Ventures, and is the third round of capital raised within four months, totaling just over $140 million.
CertiK claims this round of financing sets the bar for the largest single round of fundraising in the blockchain security space.
The newly raised capital, coupled with revenue generated from both its Skynet and Security Leaderboard platforms, will be used for the development and operation of more innovative products. "Smart contract auditing and formal verification are the first steps in a blockchain security service," CertiK co-founder, Prof. Ronghui Gu said. "CertiK's goal will be to develop more SaaS products to provide additional security benefits for clients. This includes security auditing, formal verification, monitoring, detection, as well as protection of client blockchain and smart contracts," Gu added.
CertiK said that both its Security Leaderboard and Skynet active-monitoring platforms are seeing incredible growth. Since the end of 2020, Skynet's booked revenue has grown 2,300%, and the total number of users on the Security Leaderboard has grown 2,000%, the company said.