Crypto Updates

How Certik Remains The Leader in the Crypto Security Sector?

CertiK – Medium

CertiK has been in the limelight in recent times for all the right reasons. The firm is also known as a trail-blazer in the field of blockchain security. Making use of AI technology to secure smart contracts and blockchain platforms.

Interestingly, CertiK has recently completed its third funding round. The funding event resulted in doubling its entire valuation within the space of 3 months. Therefore, in this article, you will learn how this funding round will help the growth of Certik.

CertiK Completes Yet Another Funding Round

Following the completion of its B2 funding round, CertiK was valued at $1 billion. Also, this took place about 3 months ago. The recent funding round has, however, helped double Certik’s entire valuation from $1 billion to a whopping $2 billion.

Interestingly, the recently completed funding event is the Certik B3 round of funding. The event was led by top firms like Insight Partners, Advent International, and Tiger Global. Firms like Goldman Sachs also took part in the funding event. With pre-existing investors like Lightspeed, and Sequoia also joining in the funding round.

CertiK | CertiK Completes Series B Funding - Raising over $37M!

According to the announcement, CertiK disclosed that it was excited to welcome its new investors. Adding that, it was also looking forward to “[…] continued funding support from existing ones.”

We are proud to announce we have just finished our B3 round of funding with a valuation of $2 Billion, just three months after our B2 round 🎉

Huge thanks to our investors including @insightpartners, Tiger Global, @adventintl, @GoldmanSachs, and more.

— CertiK (@CertiKTech) April 7, 2022

Also, this funding round is CertiK’s fourth funding event within the last 9 months. Resulting in raising a total of $230 million.

Blockchain Security And Current Crypto Trends

With awareness and adoption of blockchain technology, so does the need for top-notch security. According to reports, in 2021 alone, an estimated $1.3 billion worth of cryptocurrency was lost to hacks. This year, the entire crypto and blockchain sphere has already also recorded losses reaching as high as $1billion.

CertiK Project Insight: A BlockChain Audit and Blockchain Security Protocol

Therefore, with four bridge attacks (Wormhole, Ronin Network, Qubit Finance, and in just Q2 of 2022. These are all pointers to the importance of ensuring top-notch security in the blockchain and crypto space.

To close this security gap, CertiK also recently launched a KYC and fraud investigation service. The service will also help prevent rug pull scams while ensuring transparency and security in the entire blockchain and crypto space.

Why is CertiK’s KYC better than others?

The CertiK #KYC methodology is designed to detect all levels of risk and independently verifies the legitimacy of a project and its team. Our investigation includes a more than 60 point inspection checklist

— CertiK (@CertiKTech) April 8, 2022

More on CertiK

As previously indicated, CertiK is a blockchain security firm. It makes use of Artificial intelligence (AI) and top-notch verification technology to secure smart contracts and blockchain protocols. The increasing need for security in the crypto space has also led to an increase in the need for CertiK’s services. The blockchain security firm has continued to grow exponentially providing security and transparency in the decentralized tech space.

Last year, the firm recorded a 12x revenue growth rate with a profit increase of approximately 3,000x. In 2022 Q1, the firm also recorded a revenue increase of 4x. The firm is also a recipient of several awards including the CB Insights Blockchain 50 award, and the Globee Awards – Cybersecurity Global Excellence Award.

In conclusion, as the blockchain ecosystem grows with the inclusion of important spheres like blockchain gaming, Defi, NFTs, etc. The need for security firms like CertiK will also be on the rise.

CTK Price Outlook

At the time of writing this article, the price of Certik’s native token, CTK, was trading at $1.28 with a market cap of $93.5 million and a 24-hour trading volume of $5.8 million. The token price is also down by 2.9% in the last 24 hours.

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