Comcast Ventures, the corporate venturing arm of mass media group Comcast, has led a $25m series D round for US-based digital locksmith KeyMe that included retailer 7-Eleven.
Venture capital firms Battery Ventures and Questmark Partners also took part in the round, as did VC fund White Star Capital, investment firms RiverPark Ventures and Benefit Street Partners, and private investors Michael Polsky and Ravin Gandhi.
KeyMe has built and installed kiosks at more than 1,000 retail locations that allow users to copy keys in less than 30 seconds. It has also developed a mobile app that enables customers to digitally store copies of their keys in the cloud, so that they can be retrieved at any of the kiosks.
The company has now raised more than $100m since it was founded in 2012, it said. The series D funds will support marketing efforts and an ongoing expansion in retail locations.
Greg Marsh, KeyMe’s CEO, said: “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.”
7-Eleven participated in KeyMe’s.8m series A round in 2014 through 7-Ventures, the corporate VC unit it has since shuttered, investing together with White Star, Battery Ventures and Ravin Ghandi.
KeyMe added $20m in a Comcast Ventures-led series B round in January 2016 that included 7-Eleven Ventures, Battery Ventures, White Star, Michael Polsky Family Office, Ravin Ghandi and angel investor Jens Molbak.
Questmark led the company’s $15m series C round in September the same year, which included Comcast Ventures, 7-Eleven, Battery Ventures, White Star, Ghandi and Michael Polsky Family Office, before Benefit Street Partners led a $25m extension in December.