Immunefi

Immunefi's core business revolves around connecting Web3 projects with a global community of security researchers, often called whitehat hackers, to identify and responsibly disclose vulnerabilities. The company provides a platform for bug bounties, where projects offer financial rewards to researchers for discovering security flaws in their smart contracts and applications. Its business model involves charging a 10% commission on top of the bounties paid out to these researchers. The platform serves clients such as Chainlink, The Ethereum Foundation, MakerDAO, and Synthetix.

Since its inception, Immunefi has facilitated the payout of millions in bounties and claims to have prevented billions of dollars in potential hacks. The company has secured significant funding, including a $5.5 million seed round in October 2021 and a $24 million Series A round in September 2022, bringing its total funding to over $29.5 million. Key investors include Framework Ventures, Electric Capital, and Polygon Ventures.

In February 2025, Immunefi launched Magnus, a unified security operations (SecOps) platform. Magnus is designed to be an integrated command center that combines various security tools and services into a single interface. Its features include AI-powered automations, continuous monitoring, audit competitions, onchain monitoring, and firewalls, aiming to provide a comprehensive security solution across the entire software development lifecycle.