Spearbit operates Cantina, an open marketplace that connects freelance and boutique web3 security auditors with crypto protocols and companies for smart contract audits. Founded in November 2021 by a team including former Ethereum Foundation members, the company has vetted and trained over 100 researchers available for hire on its marketplace. Its platform aims to bring transparency and fairer economics to auditing by giving visibility to independent auditors and boutique firms while taking a 20%–30% cut on engagements. Spearbit is building tools to automate services and the marketplace workflow and plans to hire more software engineers to support that work. Near-term product plans include Cantina Managed Service to help solo auditors win deal flow and Cantina Guilds to enable small-to-medium audit shops to host services as guilds. Major clients in recent months include OpenSea, Nouns DAO and Polygon, reflecting traction with prominent crypto projects. The company positions itself as a solution to a fragmented audit market amid frequent exploits and rising security needs in the ecosystem.

Total raised

$7M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2023