KeyMe, a US-based digital locksmith that counts mass media group Comcast and retailer 7-Eleven as investors, closed a $35m funding round on Tuesday that was led by private equity firm Brentwood Associates.
Founded in 2012, KeyMe operates self-service kiosks in more than 3,000 retail locations across the US where customers can make copies of their brass and electronic keys. The kiosks can also cut spare keys if users have scanned them in through an app but have lost the physical key.
The company also operates a marketplace that connects customers with vetted locksmiths in case they are locked out of their home or car. The funding will drive domestic growth as KeyMe looks to add several new services to its offering.
Comcast’s corporate venturing unit, Comcast Ventures, led KeyMe’s last equity round, a $25m series D in 2017 that included 7-Eleven, Battery Ventures, Questmark Partners, White Star Capital, RiverPark Ventures and Benefit Street Partners, taking its total funding to more than $100m.
KeyMe closed its series C round at $40m in December 2016 having raised the money from Comcast Ventures, 7-Eleven, Questmark Partners, Battery Ventures, White Star, Michael Polsky Family Office, Ravin Gandhi and Benefit Street Partners, which led the round’s $25m second tranche.
The round came in the wake of a $20m series B round led by Comcast Ventures in January the same year that also featured 7-Eleven’s now-defunct corporate venturing arm, 7-Ventures, in addition to Battery Ventures, White Star, Polsky Family Office, Ravin Gandhi and Jens Molbak.
7-Ventures had already taken part in KeyMe’s $8m series A round in 2014 together with White Star, Battery Ventures and Ravin Gandhi. Battery Ventures led its $2.3m seed round in 2013, participating alongside a range of angel investors.
Image courtesy of KeyMe, LLC.
