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- KeyMe
KeyMe Funding, Investors & Competitors
KeyMe has raised $105M across 6 funding rounds, most recently a $35M Series E in January 2020.
Last KeyMe funding round
$35M
Series E · Jan 2020
Cumulative funding KeyMe raised
$105M
across 6 funding rounds
Key investors in KeyMe
Battery Ventures
Ravin Gandhi
White Star Capital
Comcast Ventures
RiverPark Ventures
QuestMark Partners
7-Eleven
7-Ventures LLC
About KeyMe
KeyMe is a digital locksmith company, founded in 2012, that operates self-service kiosks in thousands of US retail locations for copying brass and electronic keys, along with a mobile app that lets users scan and store keys digitally for reordering spares. The company also runs a marketplace connecting customers locked out of their homes or cars with vetted locksmiths. KeyMe's kiosks have been deployed in major retailers including 7-Eleven, Albertsons, Bed Bath & Beyond, Lowe's, Rite Aid, Safeway, and Sears.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
KeyMe Funding History
KeyMe has raised a total of $105M across 6 funding rounds.
KeyMe's first fundraising round was a $2M seed round in January 2013. The most recent completed round was a $35M Series E in January 2020.
KeyMe funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2020 | Series E | Brentwood Associates (lead) | $35M | KeyMe, a digital locksmith company founded in 2012, operates self-service kiosks in over 3,000 US retail locations for copying brass and electronic keys, scanning keys via app for spares, and a marketplace connecting customers to vetted locksmiths for lockouts. The company closed a $35 million financing round on January 14, 2020, led by Brentwood Associates, following a $50 million investment from BlackRock in February 2019. This brought total funding raised to over $150 million from investors including Battery Ventures, Comcast Ventures, Questmark Partners, Ravin Gandhi, RiverPark, and White Star Capital. The funding supports US expansion and new service additions, positioning KeyMe to challenge the $12 billion locksmith industry with robotics, AI, and superior customer experience. Brentwood Associates, a middle-market private equity firm with 30+ years investing in growth companies in consumer services, multi-location strategies, and business services, led the round. KeyMe had previously raised $40 million in Series C (December 2016, led by Benefit Street Partners' $25 million tranche), $20 million Series B (January 2016, led by Comcast Ventures), $8 million Series A (2014), and $2.3 million seed (2013). |
| Sep 2017 | Series D | Comcast Ventures (lead); RiverPark Ventures; Benefit Street Partners; Battery Ventures; White Star Capital; QuestMark Partners; Ravin Gandhi; 7-Eleven; Invenergy | $25M | KeyMe is a digital locksmith company founded in 2012 that provides self-service kiosks installed in over 1,000 retail locations for copying keys in under 30 seconds, along with a mobile app for digitally storing and retrieving key copies from the cloud. The company secured a $25 million Series D funding round on September 14, 2017, led by Comcast Ventures, with participation from returning investors including 7-Eleven, Battery Ventures, Benefit Street Partners, QuestMark Partners, Ravin Gandhi, RiverPark Ventures, White Star Capital, and Invenergy (via Michael Polsky). This round brought KeyMe's total funding to over $100 million since inception, following a $15 million Series C in 2016 led by QuestMark Partners and a $20 million Series B in early 2016 led by Comcast Ventures. The Series D proceeds were earmarked for supporting marketing efforts, meeting retailer demand, delivering new foot traffic and profitable revenue streams to partners, and accelerating expansion of kiosk locations, with plans to end 2017 at more than five times the number of kiosks from the year's start and continue into 2018. KeyMe targets the $7.5 billion locksmith industry, positioning its technology as a disruptive solution for convenient key copying and sharing. CEO Greg Marsh highlighted the funding's role in scaling marketing and growth amid high retailer demand. Previous rounds included a Series A in 2014 with 7-Eleven's 7-Ventures, White Star Capital, Battery Ventures, and Ravin Gandhi. By 2017, KeyMe had deployed next-generation kiosks in major retailers such as 7-Eleven, Albertsons, Bed Bath & Beyond, Kmart, Lowe's, Rite Aid, Safeway, and Sears, with ambitions to reach thousands of stores and millions of mobile users. |
| Sep 2016 | Series C | QuestMark Partners (lead); RiverPark Ventures; Battery Ventures; Comcast Ventures; The Michael Polsky Family Office; White Star Capital; Ravin Gandhi; 7-Eleven | $15M | KeyMe is a company revolutionizing the locksmith industry with self-service kiosks that copy keys in under 30 seconds, including non-transponder keys starting at $19.99 and transponder keys at $59.99, located in major retailers. The company also offers a mobile app for scanning, saving, and ordering key copies. Founded in 2012 by Greg Marsh, KeyMe targets the $7.5 billion locksmith market by providing convenient key copying and lockout solutions for consumers, recreational vehicles, watercraft, and commercial vehicles. On September 16, 2016, KeyMe raised a $15 million Series C funding round led by QuestMark Partners, with participation from all previous investors including Comcast Ventures, Battery Ventures, White Star Capital, 7-Eleven, Ravin Gandhi, and the Polsky Family Office. This followed a $20 million Series B in December 2015, bringing total funding to $45 million at that point. The oversubscribed round funds expansion of next-generation key-copying kiosks, with Nick Superina from QuestMark joining the board. KeyMe operated around 100 kiosks across the U.S. in early 2016, with plans to ship 1,000 new kiosks that year and 10,000 over the next 36 months, partnering with retailers like Sears, Kmart, Bed Bath & Beyond, Rite Aid, Lowe’s, Albertsons, Ahold USA, and 7-Eleven. |
| Jan 2016 | Series B | Comcast Ventures (lead); Pravin Gandhi; CSC Upshot; Jens Molbak; RiverPark Ventures; Teamworthy Ventures; Battery Ventures; The Michael Polsky Family Office; White Star Capital; Vanterra Capital; Ravin Gandhi; 7-Ventures LLC | $20M | KeyMe is a New York-based startup founded in 2012 by Greg Marsh that uses artificial intelligence and cloud technology to automate key duplication. The company operates in-store kiosks at major retailers and offers mobile app functionality that allows customers to save digitized versions of keys to the cloud for future copying without the original key present. The service supports automotive keys and can clone transponders, with KeyMe copies priced between $20 and $60 compared to hundreds of dollars charged by traditional locksmiths. In January 2016, KeyMe raised $20 million in a Series B funding round led by Comcast Ventures, with participation from Battery Ventures, White Star Capital, 7-Ventures (7-Eleven's venture arm), Ravin Gandhi, Coinstar founder Jens Molbak, and The Michael Polsky Family Office. At the time of this round, the company operated approximately 100 in-store kiosks across the United States with plans to deploy 1,000 new kiosks that year and 10,000 additional kiosks within 36 months, with retail partners including Sears, Kmart, Bed Bath & Beyond, Rite Aid, Lowe's, Albertsons, Ahold USA, and 7-Eleven. The company positioned itself within a large market opportunity, identifying the locksmith industry as a $7.5 billion annual market characterized by minimal innovation. By the end of 2016, KeyMe had produced and sold over one million keys, demonstrating significant early traction in key duplication volume across its growing kiosk network. |
| Apr 2014 | Series A | Evolution VC Partners; Battery Ventures; White Star Capital; Ravin Gandhi; 7-Ventures LLC | $8M | KeyMe raised $7.8 million in its Series A funding round in April 2014 from investors including Battery Ventures, White Star Capital, 7-Ventures LLC (via 7-Eleven), and angel investor Ravin Gandhi, along with Evolution VC Partners. The company, founded in 2012 by Greg Marsh, offers a key-duplication platform using kiosks in retail locations like 7-Eleven, Bed Bath & Beyond, and Rite Aid, and a mobile app for scanning keys to receive duplicates by mail. This innovation targets the $5 billion annual locksmith industry, which is fragmented with poor service and lacks modernization. The funding supports product innovation, team expansion, kiosk rollout, and scaling to improve key management for consumers. KeyMe differentiates by digitally backing up physical keys, a novel approach providing convenience over traditional locksmith services. By 2016, the company had around 200 kiosks that had produced about one million keys. |
| Jan 2013 | Seed | Battery Ventures; Ravin Gandhi; Jeffrey Wald; Amol Sarva | $2M | - |
Who has invested in KeyMe?
20 investors have backed KeyMe across its funding rounds, including Battery Ventures, Ravin Gandhi, White Star Capital, Comcast Ventures, RiverPark Ventures and QuestMark Partners.
Lead investors include Brentwood Associates, Comcast Ventures and QuestMark Partners.
KeyMe Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Participant | Jan 2013 | ||
| 5 | Participant | Jan 2013 | ||
| 4 | Participant | Apr 2014 | ||
| 3 | Participant | Jan 2016 | ||
| 3 | Lead | Jan 2016 | ||
| 2 | Participant | Jan 2016 | ||
| 2 | Lead | Sep 2016 | ||
| 2 | Participant | Apr 2014 | ||
| 2 | Participant | Sep 2016 | ||
| 1 | Participant | Jan 2016 | ||
| 1 | Participant | Jan 2016 | ||
| 1 | Participant | Jan 2016 | ||
| 1 | Participant | Jan 2016 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialKeyMe Competitors
KeyMe competitors include listed companies like ABB, Johnson Controls, Honeywell and Rockwell Automation, and private ones like The Bot Company and ByteDance.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $2B | - | ||
| Private | $186B | - | $480B | 2.6x | ||
| Publicly listed | $33B | $6.9B | $175B | 4.9x | ||
| Publicly listed | $24B | $3B | $85B | 3.7x | ||
| Publicly listed | $37B | $7.8B | $65B | 3.6x | ||
| Publicly listed | $8.3B | $1.4B | $46B | 5.4x |
KeyMe Public Comps
KeyMe is still privately-owned, but its public comps include Meta, Siemens, Schneider Electric, ABB, Hitachi, Mitsubishi, Delta Electronics (Thailand), Johnson Controls, Emerson Electric and Honeywell.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $201B | $104B | 8.8x | 7.4x | 17.0x | 12.7x | |||
| $91B | $15B | 3.0x | 2.9x | 18.1x | 15.7x | |||
| $46B | $9.5B | 4.3x | 3.9x | 21.0x | 18.4x | |||
| $33B | $6.9B | 5.4x | 4.9x | 25.9x | 22.6x | |||
| $68B | $11B | 2.2x | 2.2x | 13.8x | 13.5x | |||
| $122B | $8.7B | 1.2x | 1.2x | 17.2x | 21.8x | |||
| $5.9B | $1.1B | 15.0x | 11.4x | 80.8x | 64.9x | |||
| $24B | $3B | 4.0x | 3.7x | 31.0x | 20.0x | |||
This data is available for Pro users. Sign up to see all KeyMe competitors and their valuation data. Start Free Trial | ||||||||
Common questions about KeyMe
| When was KeyMe founded? | KeyMe was founded in 2012. |
| Where is KeyMe headquartered? | KeyMe is headquartered in United States. |
| Is KeyMe publicly listed? | No, KeyMe is a private, VC-backed company. |
| How much funding has KeyMe raised? | KeyMe has raised $105M across 6 funding rounds. |
| What was KeyMe's last funding round? | KeyMe's last funding round was a $35M Series E in January 2020, led by Brentwood Associates. |
| Who are KeyMe's investors? | KeyMe's investors include Battery Ventures, Ravin Gandhi, White Star Capital, RiverPark Ventures, Comcast Ventures, The Michael Polsky Family Office, QuestMark Partners, 7-Ventures LLC, 7-Eleven, Pravin Gandhi and 10 others. |
| Which companies are comparable to KeyMe? | Companies comparable to KeyMe include The Bot Company, ByteDance, ABB, Johnson Controls, Honeywell and Rockwell Automation. |
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