KeyMe said Tuesday that it secured $7.8 million in Series A funding. The investors included White Star Capital, Battery Ventures and 7-Ventures, the investing arm of 7-Eleven. KeyMe is an app that copies keys and solves lockouts.
New York, NY (PRWEB) April 15, 2014
KeyMe, the startup that is sending shockwaves through the locksmith industry, announced that it has raised $7.8 million in Series A funding from a group of new and existing investors, including White Star Capital, Battery Ventures, 7-Ventures LLC (7-Eleven, Inc.’s investing subsidiary), and early investor Ravin Gandhi.
“This round is a reflection of the tremendous customer reception for our mobile and kiosk platforms since we launched in mid-2013,” said Greg Marsh, KeyMe founder and CEO. “We have a very clear path to fundamentally change the way millions of people copy keys and solve lockouts by delivering convenience and value into a space which is characterized by consumer mistrust.”
Through KeyMe’s patented technology, customers can scan keys with their smartphone and receive perfect duplicates in the mail — the first ever e-commerce solution for the $5 billion-per-year locksmith industry. When someone is locked out, keys can also be printed at KeyMe’s network of retail kiosks located in 7-Eleven®, Bed Bath & Beyond®, and RiteAid® stores. The KeyMe app also allows individuals to 3D print keys and can display instructions for making a key from scratch at a local locksmith.
Since launching its mobile app and kiosks in mid-2013, KeyMe has made tens of thousands of keys and solved thousands of lockouts — saving customers hundreds of thousands of dollars in emergency lockout fees.
“Over the past 9 months, we’ve seen KeyMe kiosks deliver an outstanding in-store service which customers have responded enthusiastically to,” said Raja Doddala, VP of Portfolio Management at 7-Ventures, LLC. “By becoming an investor, 7-Eleven will learn more about effectively engaging customers with innovative, automated retail solutions.”
KeyMe ensures maximum safety and security, using advanced levels of encryption, password protection, email alerts for all account activity, and several other measures. KeyMe does not store any address information, except temporarily while fulfilling mail orders, after which all addresses are permanently deleted.
The KeyMe app is available in the iTunes App Store via key.me/download.
KeyMe offers a quick, easy and convenient way to copy keys and solve lockouts, available via its mobile app and in-store kiosks. Users can scan and store digital copies of their keys in the cloud and create duplicate copies anytime they need them. Founded in 2012, the company is funded by Battery Ventures, White Star Capital, 7-Ventures LLC, Ravin Gandhi, the founder of Coinstar, and the co-founder of Virigin Mobile, among others. For more information, please visit http://www.key.me.