AuditOne, a force in the realm of smart contract security, has recently celebrated a significant milestone in its journey of bagging €800k.
According to High Tech Grundefonds, the Cologne-based startup, co-founded by Adrien Resch, Raja Sekhar Thota, and David Velek, has successfully closed a seed funding round, amassing more than €800k. This financial boost is set to propel the company’s growth, especially in expanding its workforce and broadening its product offerings.
Leading the charge in this funding round was High-Tech Gründerfonds (HTGF), one of Europe’s top seed investors, alongside notable business angels like Florian von Bodman and Sebastian Herzog. AuditOne’s roots trace back to its inception with the support of the venture builder Soonami.io.
At the heart of AuditOne’s services is its expansive platform, hosting over 400 security experts. These professionals leverage the platform’s app to receive and efficiently complete orders. AuditOne stands out for its comprehensive array of security services and tools, designed to bolster the reliability and security of smart contracts.
Its offerings include auditor verification, an aggregator for auditors, self-service audit tools, bug bounties, coverage pools, standardized audit reports, and innovative AI auditing tools. The platform’s commitment to transparency and enhanced security in the auditing process is evident. Clients can request an audit, following which AuditOne assembles a team of adept auditors to rigorously examine the project’s codebase for a fixed fee, incentivizing auditors with bonuses for identifying potential issues.
The importance of secure and trusted Web3 cannot be overstated. The decentralized nature of Web3 and the immutability of smart contracts hold immense potential for community-building. However, vulnerabilities in smart contracts can pose significant risks.
With increasing cyber-attacks, as reported by Chainlink, and a staggering $3.8 billion stolen from cryptocurrency businesses in 2022 alone, the demand for robust Web3 security solutions is more pressing than ever. AuditOne is positioned to meet this demand, offering essential services that aim to thwart costly cyber-attacks and foster a secure Web3 ecosystem.
The freshly acquired funds are earmarked for the research and development of cutting-edge AI tools. The AuditOne team recognizes the pivotal role these tools play in smart contract auditing, with a focus on real-time Pattern Recognition, Natural Language Processing (NLP) for whitepaper companions, and Social Network Analysis for insights tracking. Their ambition is to augment auditor capabilities through the integration of AI tools, enhancing precision and efficiency in the auditing processes of smart contracts.
In the words of a company spokesperson, “We are grateful for the trust investors have placed in us. Our ultimate goal is a secure and trusted Web3. We want to offer their clients the highest level of security and peace of mind when engaging in transactions within the Web3 ecosystem.”
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