Certora raised $36 Million in Series B funding led by Jump Crypto and with participation from Tiger Global, Galaxy Digital, and Tiger Global. This Israel-based company offers security analysis tools for smart contracts based on blockchain technology.
Certora is an Israeli company that offers security analysis tools for smart contract contracts. It was founded in Israel and announced it had raised $36 Million in a Series B round, led by Jump Crypto.
According to a Tuesday statement, the round included participation from Tiger Global and Galaxy Digital, as well as existing Series A investors like ACapital and Framework Ventures, Coinfund and Lemniscap.
Certora enables smart contract developers to detect mistakes before deploying code post audits. The statement stated that DeFi protocols such as Aave and Balancer, Compound Fin, MakerDao and Sushi use Certora for smart contract protection. This is a final checkpoint following a code audit.
The company claims it has secured about $50 billion in Decentralized Finance (DeFi), projects using similar techniques to those used for safety-critical software such as avionics. Certora’s technology is the result of two decades of academic research and development in programming languages and formal verification.
Saurabh Sharma is a partner at Jump crypto and heads investments. He said that Certora uses formal verification to use a suite of robust and scalable products that provide much greater reusability as well as granular testing.
Shmuel Sagiv, a computer science chair at Tel Aviv University, is the leader of Certora. He is also a pioneer in formal verification, the research field behind Certora’s technology.
Cetora’s 65-strong team has extensive security and mathematics experience. It includes lecturers from Cornell University and Washington University, as well security engineers from traditional financial institutions like JPMorgan.
