 KeyMe Locksmiths logo 2020 | |
| Company type | Private |
|---|---|
| Industry | Locksmith |
| Founded | 2012; 12 years ago (2012) |
| Founder | Greg Marsh |
| Headquarters | New York, New York, U.S. |
| Website | www |
KeyMe Locksmiths is a technology company that provides robotic kiosks for new key duplication, locksmith services, and an app for copying keys.
Company history
The company was founded by Greg Marsh in 2012, who developed the idea after he had a difficult experience getting his home's locks changed. Marsh now serves as the company's CEO. The company is based in New York City.
Key duplication
KeyMe's mobile app at one time, had users digitally scan their keys, the scans of which were then stored in the cloud. That data was then sent to physical kiosks, where new copies of those keys could be fabricated. Kiosks can also scan keys inserted directly into a scanning apparatus. The machinery in the kiosks can quickly reproduce brass keys, key fobs, and car keys both with and without transponders. The kiosks are located in various cities across the United States, generally alongside a box retailer, grocery store, or corner store. Originally kiosks would only allow access to keys via a finger print scan. Keys can also be delivered by mail.
Some commentators have mentioned concerns that the app could potentially allow people to copy keys other than their own, since only a few seconds of physical access to a key is required to scan it. The number of KeyMe kiosks in 2016 was about two hundred, which had fabricated about one million keys at that time, and by 2020 the company had over 4,000 kiosks in retailers such as Kroger, Ikea, and Rite-Aid.
In 2021, a jury in Marshall, Texas unanimously concluded that KeyMe did not infringe any patent claims of The Hillman Group, which had sued KeyMe in the United States District Court for the Eastern District of Texas. US District Judge James Rodney Gilstrap presided over the trial.
Funding
KeyMe Locksmiths raised $300K in angel funding from Ravin Gandhi in 2012. KeyMe raised $2.3 million in seed funding in 2013 from Battery Ventures and then another $7.8 million in its Series A funding round in 2014. In 2016 the company received $20 million in Series B venture financing, a round led by Comcast Ventures and including investors 7-Eleven and Ravin Gandhi. The company then raised $15 million in their Series C round and $25 million in their Series D round. The company received $50 million in further funding in 2019 and $35 million in 2020.
References
- ^ Aamoth, Doug (9 June 2014). "Locked Out? This App Stores Your Keys Online". Time Magazine.
- Vuocolo, Alex. "KeyMe CEO Wants to Bring Trust, Convenience to $12 Billion Locksmith Industry". Cheddar News.
- ^ "KeyMe, the App That Makes It Scarily Easy to Duplicate Keys, Locks In Another $25 Million". Fortune Magazine.
- ^ Ha, Anthony (15 January 2016). "KeyMe Raises $20M For Its Key Copying Service". Tech Crunch.
- "KeyMe raises $35 million to duplicate keys with AI". 14 January 2020.
- Brian X. Chen (March 6, 2019). "This Tech Makes D.I.Y. Key Duplication Easy. Maybe Too Easy". New York Times. Retrieved March 29, 2021.
- "KeyMe aims to replace locksmiths with kiosks in more cities". EnGadget.
- "Startup KeyMe offers cheaper alternative to replacing car keys". New York Post. 21 December 2014.
- ha, peter (26 June 2013). "KeyMe: Store Your Keys In the Cloud, Never Get Locked Out Again". Gizmodo.
- "Lost keys? KeyMe has the app for that". CNet.
- Greenberg, Andy. "The App I Used to Break Into My Neighbor's Home". Wired. Wired Magazine.
- Coyne, Marley. "KeyMe Plans To Use New $35 Million Funding Round To Build 10,000+ Retail Locations". Forbes.
- Richardson, Robin Y. (20 April 2021). "Marshall federal jury sides with KeyMe in patent trial". The Marshall News Messenger.
- Marotti, Ally (18 January 2016). "KeyMe digital kiosks get boost from Chicago investors, plans expansion". The Chicago Tribune.
- "KeyMe raises $15 million for digital key-copying kiosks". VentureBeat. 16 September 2016.
- "Comcast keys into security with KeyMe, Bastille". The Philadelphia Inquirer. 22 September 2017.