Cofound.it, a distributed global platform connecting startups, experts, and investors worldwide, has announced that its CFI tokens have been completely sold out in a pre-sale held before its public crowdsale was due to start.

The pre-sale, which began on June 4, 2017, raised a total of 56,565 ETH, the equivalent of $14,859,059 USD, becoming the thirteenth largest crowdsale in history. It attracted 1,521 investors from across the globe. Within 3 hours of the pre-sale opening, 1,200 supporters had invested $5 million. The highly-successful pre-sale means the token crowdsale scheduled to commence today will not take place.

“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 startups planning crowdsales”, Cofound.it CEO and Co-founder Jan Isakovic said.

“As Cofound.it moves into the next phase of developing its distributed venture capital platform that connects exceptional startups 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 startups 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 pre-sale access was available exclusively to the startup’s most engaged supporters via its innovative Priority Pass mechanism. The Cofound.it Priority Pass feature is available to companies that pass through the rigorous evaluation process and will give projects the opportunity to appeal to Cofound.it’s established network of supporters. Cofound.it recently announced that the three innovative token crowdsale projects joining its incubation program – Santiment, Musiconomi, and X8currency – will each use the Priority Pass mechanism to kickstart their crowdsales.

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

According to the official release, 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.