Catenaa, Friday, January 30, 2025-Binance-backed blockchain security firm CertiK is preparing for a potential initial public offering, targeting a valuation near $2 billion as it seeks to become the first publicly listed web3 cybersecurity company.
Co-founder Ronghui Gu said the company does not yet have a finalized timeline but is actively working toward an IPO, citing continued investor interest in public listings by web3 infrastructure firms.
CertiK last raised funding in 2022 at a $2 billion valuation.
The New York-based firm raised $88 million in a Series B3 round co-led by Insight Partners, Tiger Global and Advent International. Gu said Binance was CertiK’s first investor and remains its largest financial backer, alongside Coinbase, SoftBank and other institutional investors.
Founded in 2018, CertiK focuses on auditing blockchain smart contracts and providing security services to crypto companies.
Gu said the firm has worked with more than 5,000 clients and has audited code securing about $600 billion in digital assets.
Earlier this month, CertiK announced a strategic partnership with YZi Labs, the family office linked to Binance founder Changpeng Zhao. Gu said Binance recently made an additional eight-figure investment in the company.
The IPO ambition comes as public markets show renewed interest in profitable crypto infrastructure firms, even as venture funding across the sector remains uneven. CertiK’s scale and revenue profile could position it as a test case for future web3 listings.
The firm has also faced scrutiny over some past audit engagements, including work connected to overseas marketplaces later linked to criminal activity.
