Cofound.it, a platform for nurturing and incubating the world’s start-ups planning crowdsales, has announced that its CFI tokens have completely sold out in a pre-sale held before its public crowdsale was due to start. The pre-sale, which commenced on June 4th, 2017, raised a total of 56,565 ETH – the equivalent of $14,859,059 USD – and attracted 1,521 investors from across the globe. Within 3 hours of the pre-sale opening, 1,200 supporters had invested $5 million USD. Cofound.it offered pre-sale access exclusively to its most engaged supporters via its innovative Priority Pass mechanism. The highly-successful pre-sale means the token crowdsale scheduled to commence will not take place.

CEO and Co-founder of Cofound.it, Jan Isakovic said: “Cofound.it is proud to have made history today as the first crowdsale to completely sell out before its public token sale begins. This momentous achievement is testament to our revolutionary Priority Pass mechanism which rewards highly-engaged company supporters. We believe Priority Pass represents the future for start-ups planning crowdsales. As Cofound.it moves into the next phase of developing its distributed venture capital platform that connects exceptional start-ups with world-leading experts and investors, we would like to humbly thank our supporters and investors for helping us close out our pre-sale in such grand fashion. Together, we have set a new benchmark and set of best practices for start-ups to launch high-volume crowdsales. This strong community support shows that the community shares our vision of a distributed Silicon Valley and our belief that the blockchain space must build it.”

The Cofound.it Priority Pass feature is available to companies that pass through the evaluation process and will give projects the opportunity to appeal to Cofound.it’s network of supporters. The first projects launching through Cofound.it acceleration program: Santiment, Musiconomi and X8currency, will each use Cofound.it Priority Pass to kickstart their crowdsales.

Cofound.it has so far connected with more than 50 crowdsale projects, with six currently accepted to the program. The company plans to launch at least 10 start-up projects this year, with an additional 30 projects expected to launch in 2018.

CFI tokens will be issued to investors within 7 days after Cofound.it has audited the sale. CFI are expected to trade on major exchanges, which will be announced in the coming weeks.