CertiK Ventures discloses $45M investment plan to boost Web3

The venture arm of the major blockchain security platform CertiK is working to promote Web3 adoption with a new multimillion-dollar investment targeting new industry projects.

CertiK Ventures launched a $45-million investment plan on Sept. 19 to drive the development of high-potential Web3 projects, according to an announcement shared with Cointelegraph. The plan aims to accelerate the integration and security within the Web3 ecosystem.

The announcement comes a few months after CertiK officially launched its venture arm in May 2024. The arm targets supporting emerging blockchain platforms in combination with CertiK’s long-running expertise in blockchain security.

CertiK introduces free community security tools at Token2049

In addition to CertiK Ventures’ news, CertiK announced a Web3 services upgrade at the Token2049 in Singapore on Sept. 19.

The blockchain security firm also launched free community security tools, including Token Scan and Wallet Scan, to help users safeguard their assets.

CertiK’s Token Scan tool specifically provides instant token security checks to detect scams on networks such as Solana. Wallet Scan allows users to check whether their wallet is exposed to risks like approval vulnerabilities, suspicious transactions and phishing address interactions.

CertiK developed the Token Scan and Wallet Scan tools based on its experience conducting more than 70 white hat operations, reporting more than 4,000 security incidents, discovering 115,000 code vulnerabilities and protecting approximately $360 billion in assets.

CertiK is backed by high-profile investors

Founded in 2018 by professors from Yale University and Columbia University, CertiK has emerged as a crucial platform in the blockchain security industry.

The company is backed by prominent investors, including the United States banking giant Goldman Sachs, Insight Partners, Sequoia Capital and Tiger Global, as well as major exchanges such as Binance and Coinbase. Just a few years after its foundation in 2022, the company reached a $2-billion valuation.

In addition to close collaborations with industry companies, CertiK is also working closely with law enforcement to share evidence of the alleged crimes and details collected during Know Your Customer verifications.

According to the firm, CertiK has provided security services to more than 4,700 projects across 150 countries, including Web3 networks and companies like The Open Network (TON), Ripple, Aptos and Binance.

CertiK’s market monitoring tool, CertiK Alert, regularly provides updates on cryptocurrency hacks, scams and flash loans, aiming to protect investors.

Source: https://cointelegraph.com/news/certik-ventures-45-million-investment-web3