Certora, a blockchain security firm focused on formal verification and smart contract audits, appears to have cut staff after public posts from people tied to the company pointed to team reductions.
The Coinformer verified that at least several people linked to Certora indicated that the company has reduced headcount.
- As of press time, Certora hasn't issued a public statement, so the scale of the cuts and affected teams remain unclear.
- Commenting on layoffs, Certora founder Shmuel Sagiv wrote in an X reply that "our team is being restructured to support our new vision of agentic formal verification."
- The Coinformer reached out to Certora for comment and will update the story once we hear back.
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Founded in 2018 by Shmuel Sagiv, a Tel Aviv University computer science professor and formal verification researcher, Certora builds tools that use mathematical methods to check whether smart contracts behave as intended before they are deployed.
- The company raised a $7.2 million Series A in 2021 and a $36 million Series B in 2022 led by Jump Crypto, with investors including Tiger Global, Galaxy Digital, Electric Capital, Coinbase Ventures, and others.
The layoffs come during a rough stretch for crypto security firms. In May, Code4rena, a Paradigm-backed crypto security platform known for competitive smart contract audits, announced it would wind down its business while completing all open contests and bounties.
Code4rena had been one of the better-known audit contest platforms in crypto, connecting projects with independent security researchers who competed to find smart contract bugs.
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Updated 8:08 pm UTC. Added comments from Certora's founder.