CertiK, an on-chain analytics and blockchain security auditing firm backed by Binance, is moving toward an initial public offering (IPO), according to a recent Chia from co-founder Ronghui Gu. While no specific roadmap or timeline has been set, CertiK's leadership affirms that an IPO is a long-term goal the company is seriously pursuing, given that global Capital markets are becoming more open to Web3 businesses with clear business models and tangible revenue.
Speaking on the sidelines of the World Economic Forum in Davos, Ronghui Gu said CertiK aims to become the first Web3 cybersecurity company to go public, paving the way for a wave of IPOs of pure Web3 blockchain infrastructure businesses. According to him, even though the cryptocurrency market has experienced a sharp downturn, institutional investors remain particularly interested in companies providing core services such as security, on-chain data analytics, and risk management, rather than short-term speculative projects.
Founded in 2018 and headquartered in New York, CertiK specializes in smart contract auditing, vulnerability assessment, and providing risk monitoring solutions for blockchain protocols. The company states that it has served over 5,000 clients globally and has audited code protecting an estimated $600 billion worth of assets. Ronghui Gu is also currently an associate professor of computer science at Columbia University, where he conducts in-depth research on distributed systems security and Cryptology, a key academic foundation behind CertiK's products.
Financially, CertiK Capital approximately $2 billion in 2022 through a Series B3 funding round of $88 million, co-led by Insight Partners, Tiger Global, and Advent International. Binance was the first investor and is currently CertiK's largest financial shareholder. Additionally, the company has received Capital from several other major players in the technology and finance industries, such as Coinbase Ventures and SoftBank. Recently, CertiK confirmed that Binance has made another investment worth tens of millions of dollars, demonstrating that the strategic relationship between the two parties continues to strengthen.
Earlier this month, CertiK also announced a strategic partnership with YZi Labs, the family investment firm of Changpeng Zhao – the founder of Binance. This agreement is not only financially significant but also expands cooperation in security research, safety standards for the blockchain ecosystem, and training of Web3 security personnel, in the context of hacks and exploits still causing billions of dollars in losses to the cryptocurrency industry each year.
