12 April 2022
Carey Olsen advises Certik as it more than doubles its valuation to US$2 billion
Lawyers from Carey Olsen's corporate team in the Cayman Islands have advised web3 and blockchain security firm Certik on its US$88 million Series B3 funding round, bringing its valuation to US$2 billion.
The oversubscribed funding round means Certik has doubled its valuation in three months, having raised a total of US$230 million across four separate funding rounds over the past nine months, all of which Carey Olsen advised on.
The Series B3 was led by Insight Partners, Tiger Global and Advent International. Goldman Sachs also participated alongside existing investors such as Sequoia and Lightspeed.
The Carey Olsen team advising Certik on the Cayman Islands law aspects of the funding round comprised partner Nick Bullmore and counsel Dylan Wiltermuth.
Nick said: "Certik's growth over the past year has been extremely exciting to be a part of. To have reached a US$2bn valuation in such a short period of time demonstrates how the company is leading the way in the blockchain security space."
Certik has so far protected more than US$300 billion worth of crypto assets for 2,500 enterprise clients through its auditing and fraud investigation services. In 2021, Certik's revenues rose by 12 times, while profits increased 3,000 times.