China blockchain security company Certik raises $80m
China and US-based blockchain security company Certik has raised $80 million in the third tranche of a Series B round led by Sequoia Capital China.
Tiger Global Management, GL Ventures, Coatue Management and Shunwei Capital also participated. Certik has raised three rounds in the past four months with total proceeds of more than $140 million and is now valued at more than $1 billion.
Certik was established in in New York in 2018 by Yale University, Zhong Shao, a professor at Yale, and Ronghui Gu, a professor at Columbia University. The idea was to bring cutting-edge technologies from the academic world to industry.
In the past year, CertiK has achieved a twentyfold increase in revenue and grown its staff fourfold. It serves 1,800 enterprise-level customers, claiming to have discovered more than 31,000 code vulnerabilities and protected more than $300 billion in digital assets.
A software-as-a-service (SaaS) product called Skynet was launched this year. It uses artificial intelligence to provide smart contract monitoring on a 24-7 basis. Skynet’s revenue has grown 23x since launch, with the product accumulating 200,000 average daily active users.
China has banned cryptocurrency transactions, but regulators have encouraged the development of underlying blockchain technology. Blockchain security has been recognized as an important to the industry’s sustainable development.
CertiK raised $24 million in an extended Series B led by Tiger Global and GL Ventures in August, following a $37 million Series B ed by Coatue Management and Shunwei Capital in July. A $7.7 million Series A came in June 2020 from IDG Capital, Wing VC, Tsingyuan Ventures, Lenovo and Ausvic Capital, according to AVCJ Research.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.