Security firm CertiK’s new venture firm unveils $45 million investment plan

Quick Take

  • Web3 auditing firm CertiK’s new venture arm plans to invest in two new free security products designed to safeguard user’s assets.

Web3 security firm CertiK’s recently launched venture arm, CertiK Ventures, plans to invest $45 million of its funds in a new suite of products built in-house as well as other opportunities, the company announced in a statement on Thursday. 

“The official launch of CertiK Ventures during Token2049 completes CertiK’s full-chain security solution, enabling its upgraded product suite to support projects from their early stages to becoming major industry players,” the firm wrote.

In addition to investing in startups, CertiK Ventures plans to help fund two new free security tools, Token Scan and Wallet Scan, designed to help users safeguard their assets from malicious tokens and wallet codes. 

Backed by firms including Sequoia Capital, Tiger Global and Goldman Sachs, CertiK is currently valued at $2 billion, making it the highest-valued web3 security company in operation. The company claims to have worked with over 4,700 projects across 150 countries, including Ton, Ripple, Aptos and Binance.

In June, Certik stirred controversy after it withdrew some $3 million from Kraken after discovering a vulnerability and not immediately alerting the exchange. The firm has also been accused of front-running bug bounty programs. 


Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Daniel Kuhn is a Senior Journalist and Editor at The Block, where he covers the crypto industry with a particular focus on tech. He previously served as deputy managing editor of opinion/features at CoinDesk. He first appeared in print in Financial Planning, a trade publication magazine. Before journalism, he studied philosophy as an undergrad, English literature in graduate school and business and economic reporting at an NYU professional program. You can connect with him on Twitter and Telegram @danielgkuhn or find him on Urbit as ~dorrys-lonreb.

Editor

To contact the editor of this story:
Lawrence Lewitinn at
[email protected]