Blockchain technology company Tierion has raised $25 million in its token sale which ended on 28 July 2017, much before its slated concluding date August 10th.

Tierion created ‘Chainpoint’ – a technology that lets anyone prove with absolute certainty, when data was created and if it has been modified from its original state. The startup is using this technology to launch the Tierion Network, a universal platform for data verification that operates at massive scale.

During the token sale, an ERC20 smart contract token ‘Tierion Network Token (TNT)’ was sold, which is used as a payment mechanism for services on the network, and as an economic incentive to maintain the network's uptime and reliability. Last week, Fenbushi Capital made a commitment to participate in its upcoming token sale.

Tierion plans to use the sale proceeds to build out a global network and cover the rising costs of linking data to the blockchain. The funds will also be used for the ongoing development of technology within the Tierion ecosystem.

The company last year raised $1m in seed funding co-led by Blockchain Capital and Fenbushi Capital, along with the participation of Digital Currency Group.

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