By Nathan Ferguson
According to official announcement made by Certora, the firm revealed that their series B funding round was a massive success, boasting around $36Million in the bag.
Certora Secures Massive $36Million
Certora recently announced a massively successful series B funding event, which led to the collection of more than $36Million in collective funds, contributed by many generous corporations that have gained the trust of Certora, believing on its visionary approaches and solutions.
Taking a deeper dive into the series B funding event, Certora revealed that top on the list of fund providers was Jump Crypto, which led the funding event. Investments Lead at Jump Crypto, Saurabh Sharma commented about Certora, stating that since Certora is fueled by global experts, it has a strong grip on the concept of formal verification and boasts a collection of scalable and secure products that promote reusability and delicate testing methodologies.
Other popular contributors included many famous names such as, Tiger Global and Galaxy Digital, with previous contributors in the series A funding event such as, Electric Capital, ACapital, Framework Ventures, Coinfund, Coinbase and a couple others that also participated.
Certora’s Background and Development History
Its headquarters located in Israel, Certora is a firm that issues security analytical solutions, specially developed for Smart Contract functionalities. The company assists smart contract developers in discovering bugs, mistakes, and vulnerabilities, before releasing any code after conducted audits. The firm is currently run by Shmuel Sagiv, who also leads the computer science department at Tel Aviv University and is an expert on formal verification, which is the main factor that firm is based on.
Certora stated in the announcement that many globally popular decentralized finance (DeFi) protocols such as Aave, Compound Finance, MakerDao and several others have utilized the services that Certora provides, helping them to properly analyze their code base for any issues before formally releasing it. Certora’s role is basically to be the last gate before protocols can release any code.
Certora also mentioned that it handles around $50Billion worth of DeFi projects and utilizes the relevant methodologies that are quite familiar to safety-oriented programs like, Avionics Software. The tech space at Certora has been developed with more than two decades of research and hard work towards studying and operating formal verification solutions and working with different programming languages.