Total amount raised
$300.2 Millions
Latest funding date
4/1/2022
Location
CertiK has successfully raised significant funding over multiple rounds, establishing itself as a key player in the Web3 security landscape. The platform offers a range of services, including smart contract audits and blockchain security solutions.
Keep reading to explore the intricacies of CertiK's fundraising journey and the investors backing this innovative platform.
What Is CertiK?
CertiK, founded in 2018, is a prominent player in the Web3 security space. The company was established by Ronghui Gu and Zhong Shao, with its headquarters located in New York.
Specializing in smart contract audits and blockchain security solutions, CertiK offers a comprehensive suite of tools designed to secure the Web3 industry. Their services include code security audits, Web3 ratings and insights, penetration testing, compliance and AML services, advisory services, and node services.
With a growing team, CertiK continues to expand its influence in the blockchain security sector, serving thousands of clients and monitoring numerous projects to ensure industry-wide safety and trust.
How Much Funding Has CertiK Raised?
- Seed Round
- Amount Raised: $3.5M
- Date: March 2018
- Lead Investors: Lightspeed Venture Partners, YZi Labs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their blockchain security solutions.
- Series A
- Amount Raised: $7.7M
- Date: June 2020
- Lead Investors: IDG Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their team and enhance their security auditing capabilities.
- Series B
- Amount Raised: $24M
- Date: August 2021
- Lead Investors: Hillhouse Investment, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and improve their security solutions.
- Series B
- Amount Raised: $37M
- Date: July 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their product offerings and expand their market reach.
- Series B
- Amount Raised: $80M
- Date: December 2021
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their security infrastructure and support more clients.
- Series B
- Amount Raised: $88M
- Date: March 2022
- Lead Investors: Advent International, Insight Partners, Tiger Global Management
- Valuation at Round: $2 billion
- Motivation Behind the Round: To scale their security auditing and verification solutions.
- Series B
- Amount Raised: $60M
- Date: April 2022
- Lead Investors: SoftBank Vision Fund, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish partnerships with global investing giants and expand their market presence.
Total Amount Raised: $300.2M. Current Valuation: $2 billion.
Key Investors
- SoftBank Vision Fund
- Details: Managed by SoftBank Group, a Japanese multinational conglomerate, the SoftBank Vision Fund is one of the largest technology-focused venture capital funds in the world. It aims to accelerate the AI revolution by investing in market-leading, tech-driven companies.
- Investment Focus Areas: Artificial Intelligence (AI), Robotics, Telecommunications, Internet of Things (IoT), Fintech
- Notable Investments: Uber, WeWork, Arm Holdings
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. Known for its aggressive investment strategy, it has a significant presence in high-growth markets.
- Investment Focus Areas: Internet, Software, Consumer, Financial technology (Fintech), Enterprise technology
- Notable Investments: Facebook, LinkedIn, Spotify
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that has been investing in early-stage companies since 1972. It has a strong track record of backing companies that have become industry leaders.
- Investment Focus Areas: Technology, Healthcare, Consumer, Financial services
- Notable Investments: Apple, Google, WhatsApp
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm that invests in growth-stage technology and software companies. It aims to help companies scale through strategic guidance and operational support.
- Investment Focus Areas: Software, Internet, Data, Fintech
- Notable Investments: Twitter, Shopify, DocuSign
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the enterprise and consumer sectors. It has a global presence with investments in various high-growth markets.
- Investment Focus Areas: Enterprise, Consumer, Fintech, Healthtech
- Notable Investments: Snap, Nest, Grubhub
What's Next for CertiK?
CertiK stands at the cusp of significant growth opportunities, particularly in establishing partnerships with traditional companies venturing into the Web3 space. With over 60% of the market share for Web3 security services and a vast untapped market, the potential for expansion is immense. The increasing complexity of Web3 applications and the rising number of high-profile security breaches underscore the critical need for advanced security solutions.
Future fundraising appears promising, given CertiK's recent successful rounds and the growing demand for blockchain security. Investors are likely to continue backing the company as it scales its operations and enhances its product offerings. However, challenges such as high service costs, competition, and rapidly evolving security threats could pose hurdles. CertiK's ability to navigate these challenges will be crucial in maintaining its market leadership.
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