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Blockchain security firm Certik raises $80 million round led by Sequoia

security smart contract bugs

Today blockchain security firm Certik announced it raised another Series B extension round of $80 million led by Sequoia Capital China at a valuation of just under $1 billion. Combined with the other two Series B rounds, the total amount raised has been $140 million since July. Other participants include Tiger Global, Coatue Management, and GL Ventures (Hillhouse Capital). 

Certik provides security audits for smart contracts running on public blockchains. Its Skynet Premium solution uses machine learning to monitor smart contracts and potential threats in real-time. With hacks and scams in excess of $1.3 billion so far this year, Certik’s skills are in demand.

“Blockchain security is an indispensable link in the commercial value chain overall,” said a Sequoia spokesperson. “We believe that CertiK can create synergies with other companies we have invested in.”

The company has provided audits to 1,800 clients, including the likes of Aave, Polygon (not Poly), Binance Smart Chain, and Chiliz.

One of its main competitors is ConsenSys Diligence for security audits and the ConsenSys MythX automated solution for finding code vulnerabilities.

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