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KeyMe raised funds worth $35 million after the last investment, accounting to $50 million from BlackRoad in February 2019.
FREMONT, CA: KeyMe raised funds worth $35 million after the last investment, accounting to $50 million from BlackRoad in February 2019. Since its Inception in 2012, KeyMe has substantially expanded both in capacities and technology. Its smart kiosks have provided a variety of locksmith services that include key duplication for advanced electronic keys, for example, vehicle keys with transponders, and RFID keys. KeyMe kiosks leverage state-of-the-art robotics and AI to design keys that are convenient, accurate, and safe. The company has seen massive development in the consumer rate and retail demand for its self-service kiosks that are at present, serving more than 10 million customers each year in all retail locations.
"We're building a new type of robotics and AI company to challenge the customer experience standards in the $12 billion a year locksmith industry," said Greg Marsh, KeyMe Founder & CEO. "We are excited to work with the Brentwood team to expand our services to build the most trusted brand in the locksmith industry."
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"Leveraging incredibly sophisticated technology and delivering a highly differentiated, convenient, and satisfying consumer experience, KeyMe is non-paralleled in the locksmith industry," stated Eric Reiter, partner at Brentwood Associates. "With a rapidly scaling footprint across the U.S., potential for international growth, and significant additional consumer and home services to come, we are excited to be partnering with such an outstanding team."
The rapid growth of KeyMe is significant and the firm has collected over $150M from top-tier venture capitalists such as Battery Ventures, BlackRock, Brentwood, Questmark Partners, Ravin Gandhi, RiverPark, Comcast Ventures, and White Star Capital. It has expanded to more than 3,000 locations in over 72 different retailers across 49 states, some of whom are Albertsons, Autozone, Bed Bath & Beyond, Giant Eagle, IKEA, Kroger, Menards, Rite Aid, Save Mart, Sears/Kmart, Simon Malls, and 7-Eleven. An increasing number of retailers are utilizing the KeyMe kiosks to attract clientele, especially newly shifted people, who are yet to decide where to shop for the necessities in their new neighborhoods.
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