Certora finishes a $36 million Series B financing round

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Certora, an Israeli firm that offers smart contract security research tools, has secured $36 million in a Series B investment headed by Jump Crypto.

As per a statement released on Tuesday, Tiger Global, Galaxy Digital, and current Series A investors Electric Capital, ACapital, Framework Ventures, Coinfund, Lemniscap, Coinbase, and VMware participated in the round.

Certora allows smart contract developers to uncover errors before launching code after audits. Certora is used by DeFi protocols like Aave, Balancer, Compound Finance, MakerDao, Sushi, and others to safeguard their smart contracts against defects before launching them, according to the statement.

Jump Crypto - building the next frontier in crypto infrastructure

The firm has secured around $50 billion in decentralized finance (DeFi) projects using procedures similar to those employed in safety-critical systems like avionics software. In addition, Certora’s technology results from more than two decades of academic study in formal verification and programming languages.

Powered by world-class experts, Certora leverages formal verification to employ a suite of scalable and robust products that offer much higher reusability and granular testing,” stated Saurabh Sharma, partner and head of investments at Jump Crypto.

Shmuel Sagiv, a computer science professor at Tel Aviv University and a pioneer of formal verification, the academic subject that underpins Certora’s technology, is the company’s CEO.

Certora’s 65-person team comprises academics from Cornell and the University of Washington and security experts from conventional banking organizations such as JPMorgan.

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