KeyMe Locks Up $25 Million Investment

NEW YORK — KeyMe, a New York City-based startup that operates self-serve key-copying kiosks nationwide, has closed on a $25 million series D investment round. The company has now raised over $100 million in funding to date. KeyMe will use the funding to continue its rapid retail expansion and invest in more marketing.

The investment was led by Comcast Ventures and includes Battery Ventures, Benefit Street Partners, Michael Polsky, Questmark Partners, Ravin Gandhi, RiverPark Ventures, 7-Eleven, White Star Capital.

Founded in 2012 by Greg Marsh, KeyMe is transforming how people access and manage their keys, providing a safe and convenient way to copy and share keys and solve frustrating lockouts. The company has smart kiosks in major retailers that can copy keys in under 30 seconds, at a rate that is 10-times more accurate than industry averages, as well as a mobile application that enables customers to safely scan and save a digital copy of their key so that they have access to their keys when and where they need them.

KeyMe kiosks are currently present in over 1,000 locations within leading retailers, including: Albertsons, Bed, Bath & Beyond, Kmart, Kroger, Mall of America, Rite Aid, Safeway, Sears, and 7-Eleven, among others. Keys can be copied in under 30 seconds.

The $25 million financing includes 100% insider investor participants and will continue KeyMe’s rapidly accelerating expansion into 2018. KeyMe will be finishing 2017 at more than five times the number of kiosks in market than when the year began.

“KeyMe has disrupted the $7.5 billion per year locksmith industry with groundbreaking technology,” says CEO of KeyMe, Greg Marsh. “This new round of financing will assist us with continuing to meet our increasingly high retailer demand as we are delivering new foot traffic and profitable revenue streams. We will be furthering our growth rate with significant scaling of our marketing activity.”

“KeyMe has received tremendous consumer reception and impressive retail demand for its kiosks,” says Sam Landman, Managing Director at Comcast Ventures. “The company is well positioned to become a leader in this $7.5B/year offline service industry. We look forward to helping the company continue to grow and scale.”

In a revolutionary advance in the industry, KeyMe enables customers to save digital copies of their keys in the cloud with confidence they will be protected by a state-of-the-art security platform. Customers can then recover a copy simply and securely using their fingerprint at any of the kiosks if they are ever locked out and can also use KeyMe’s free iOS and Android apps.

KeyMe kiosks are the first and only kiosk with the ability to duplicate approximately 85% of all automotive keys on the market.