Security is paramount in crypto, but as regular coverage of hacks and other exploits make plain it is not taken seriously enough. Spearbit wants to change that, and it just raised a new round to accelerate its efforts.
The startup raised $7 million in a funding round led by Framework Ventures with participants including Nascent, 1kx, Volt Capital, Breed VC and Robot Ventures, the company exclusively told TechCrunch. The capital will go toward building out Cantina, its open marketplace for web3 security auditors, as well as hiring more software engineers to automate its services and product marketplace workflow, company co-founder Spencer MacDonald shared.
The startup previously raised a pre-seed round of $1.5 million in late 2021, bringing its total capital raised to $8.5 million today. The startup did not disclose a valuation, but PitchBook data pegs the company’s worth at around $48 million on a po...
