Smart contract security audit-focused startup CertiK has raised $88 billion at a $2 billion valuation. Series B3 funding round led by Insight Partners, Tiger Global, and Advent International.

In addition, investments were made by Goldman Sachs, Sequoia Capital and Lightspeed Venture Partners.

In December 2021, CertiK raised $80 million at a valuation of $1 billion. In the last nine months, the firm has completed four rounds totaling $230 million.

According to startup CEO Ronhui Gu, the proceeds will be used to transform the project into “a universal security platform for the entire Web 3.0 world.”

The startup expects continued high demand for the services it provides. According to the results of January-March, the company’s revenue as a whole increased fourfold for 2021 – 12 times. Specific values ​​were not given in Certik.

In 2021, the amount of funds stolen from the DeFi ecosystem was $1.3 billion. Since the beginning of 2022, this figure has already reached $1.22 billion as a result of events related to Ronin Network, Wormhole, Qubit Finance and Meter. The company expects new attacks, especially with cross-chain bridges and instant loans.

Company representatives also drew attention to the growing number of scams and carpet pulling Tackling a product and an investigation service initiated by Certik KYC.

Recall that OpenZeppelin experts have fixed a vulnerability in the code of the Convex Finance DeFi project, which could potentially lead to a loss of $ 15 billion.