CertiK

CertiK is an American blockchain security company headquartered in New York City. Founded in 2017 by computer scientists Ronghui Gu and Zhong Shao, the company specializes in smart contract auditing, formal verification, and blockchain security services. Its work originates from research on formally verified operating systems and software verification developed by its founders in academia.

The company has received coverage in technology and financial publications for its application of formal verification to blockchain security, its venture capital funding, and its growth within the Web3 cybersecurity industry.

History

CertiK was founded in 2017 by Ronghui Gu, a professor of computer science at Columbia University, and Zhong Shao, a professor of computer science at Yale University. Before establishing the company, the founders conducted research on formal verification and operating system security, including the development of CertiKOS, a formally verified operating system designed to improve software reliability through mathematical verification.

According to MIT Technology Review, the company was established to apply formal verification techniques developed in academic research to blockchain software and smart contracts.

During its early years, CertiK expanded from research-based software verification into blockchain security services, including smart contract auditing and security monitoring for blockchain networks.

Operations

CertiK provides security services for blockchain networks, smart contracts, decentralized finance (DeFi) protocols, and Web3 applications. Its activities include smart contract auditing, formal verification, penetration testing, and blockchain security monitoring.

According to MIT Technology Review, the company's approach emphasizes formal verification, using mathematical methods to verify software behavior in addition to conventional security testing.

The company also develops monitoring tools for blockchain ecosystems that identify potential security risks affecting smart contracts and decentralized applications.

Funding

In July 2021, CertiK announced a US$37 million Series B funding round led by Coatue Management and Shunwei Capital, with participation from Coinbase Ventures and other investors.

Later in 2021, the company raised an additional US$80 million in a Series B2 funding round. CoinDesk reported that the investment increased CertiK's valuation to nearly US$1 billion.

In April 2022, CertiK announced an additional US$88 million funding round led by Insight Partners, Tiger Global Management, and Advent International. Following the investment, several financial publications reported that the company had reached a valuation of approximately US$2 billion.

See also

  • Smart contract
  • Formal verification
  • Web3