Cybersecurity company Rivetz has attracted $5.5 million in a private pre-sale of RvT, its Rivet cybersecurity token. The sum equates to 19,000 ETH.
The token sale opened to the public at 17:00 UTC on Aug. 10.
RvT was developed to provide verifiable security controls for cloud authentication, the Internet of Things, blockchain, and legacy financial transactions. It facilitates multifactor authentication across devices, and achieves provable security at the transaction and authentication levels.
Rivetz uses technology already inside millions of mobile devices to prevent alteration or theft of keys and transactions by malware
Institutional buyers were active in the pre-sale, attracted by the multi factor authentication solution.
“We are very supportive of the goals of Rivetz and happy to add it to our portfolio of tokens,” BnkToTheFuture.com CEO Simon Dixon said. “Turning our phones into hardware wallets in a way that is scalable will be an important advancement as the world adjust to owning their own digital assets. Rivetz CEO Steven Sprague is a true expert in the field of security, and the perfect leader to bring this innovation in personal security forward.”
“The Rivetz token distribution is a groundbreaking moment in decentralized cybersecurity,” said Matthew Roszak, managing director of Tally Capital and co-founder of Bloq. “Rivetz provides consumer protections and simplicity that will help blockchain applications achieve their next level of adoption. This new platform will add a crucial new layer of protection to exchanges, wallet and new tokens to ensure a level of data integrity and identity protection never before available.”