SoftBank Vision Fund and Tiger Global have raised a new $60 million fund for blockchain security firm CertiK (CTK). With the effect of the news, the altcoin price first peaked and then regressed to its previous level.
The capped altcoin price peaked first, then…
Web 3 and blockchain security firm CertiK held a $60 million funding round backed by SoftBank Vision Fund and Tiger Global. The funding comes two weeks after CertiK announced an $88 million round led by Insight Partners. With this financing, the altcoin reached a valuation of $ 2 billion.
CertiK founder and CEO Ronghui Gu, one of CertiK’s founders, Ronghui Gu, said in a statement that they increased their revenues 12 times and their profits 3,000 times last year. Also, Ronghui Gu notes that CertiK is not planning a new funding round anytime soon.
Altcoin is partnering with two global investment giants that can provide financing and connectivity to traditional companies looking to enter the Web 3 space. CertiK states that this is the first time SoftBank has invested in a Web 3 security company. Under the influence of the news, the altcoin price first jumped from $1.15 to $1.35, but then dropped to $1.20.
What does CertiK aim for?
Blockchain security delays made headlines this year, causing over $1 billion in losses. In February, Blockchain bridge Wormhole lost $326 million in an attack. As we mentioned in the news of Kriptokoin.com, Ronin Network, the infrastructure of the popular play-to-earn game Axie Infinity, suffered a $ 625 million hack.
Headquartered in New York, CertiK offers a range of end-to-end security solutions that can make the company a one-stop shop for customers. Products include code inspection, threat monitoring, and asset monitoring, and the company is currently developing new products. The security service was founded in 2018 by Ronghui Gu, a professor of computer science at Columbia University, and Zhong Shao, a professor at Yale University.
Due to the limited number of providers and often high costs, it is not easy to find security services for new Web 3 altcoin projects. CertiK wants to scale its security auditing and verification solutions to make it available to even small Web 3 companies.
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