Renowned blockchain security firm, Certik is set to launch a $45 million fund that will contribute to the advancement of the web3 sector. The firm disclosed the investment fund and the upgrade of a suite of products via a post on X (formerly Twitter) on Thursday.
The post quoted how Certik through its investment venture hosted the “New Round, New Path” event during Token2049 alongside firms like OKX Ventures and OKX Wallet. As revealed, the blockchain analytical firm during the event unveiled the development of new products and services that are designed to push the adoption of web3.
Underlying its commitment to the web3 community, Certik released some free security tools like Token Scan and Wallet Scan to support emerging communities. With these tools, web3 community members can easily safeguard their assets from unwarranted access.
Furthermore, the blockchain security firm through Certik Ventures will provide financial support worth up to $45 million to emerging web3 projects with high potential. In the post, Certik explained that the initiatives will help ensure that the web3 space remains safe for investors.
Similarly, the investment fund will also see the advancement of useful projects which will further boost the growth of the industry.
How Certik has Contributed to the Advancement of the Web3 Sector
Meanwhile, Certik has earned a reputable status in the web3 sector thanks to its robust contribution to the safety and security of the industry. So far, the firm has offered security support to about 4,700 projects spreading across 150 countries.
Additionally, Certik has also conducted more than 70 successful bug bounty operations, reporting up to 4,000 security breaches and 115,000 code issues. As a result of this enormous support, the company has managed to protect $360 million worth of web3 investors’ funds.
It is worth mentioning that the official launching of Certik Ventures manifested during Token2049. By that, the firm has completed its full-chain security solution to support emerging projects from their early stage till they hit the zenith of the industry.
With a valuation of $2 billion, Certik is enjoying financial backup from investors like Insight Partners, Sequoia Capital, Tiger Global, and Goldman Sachs. At its core, the firm offers services like protocol auditing, security rating, and other key cybersecurity assistance.
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