Keychain, an AI-based manufacturing platform tailored for the consumer packaged goods (CPG) industry, has recently announced a substantial $30 million Series B funding round. This round was led by Wellington Management, with significant contributions from existing investor BoxGroup and other notable returning financiers.
The funding will be used to facilitate the rollout of KeychainOS, an innovative AI-based operating system designed to help manufacturers efficiently manage their production cycles. KeychainOS promises to deliver greater speed, visibility, and intelligence to manufacturing processes.
With this latest funding, Keychain’s total financial backing has reached an impressive $68 million, a remarkable achievement just 18 months after the platform’s inception. This rapid growth reflects the widespread acceptance and adoption of Keychain within the industry. Currently, the platform is utilized by eight of the top 10 retailers, including prominent names such as 7-Eleven and Whole Foods. Additionally, Keychain serves seven of the top ten global brands, including General Mills, illustrating its significant impact.
What sets KeychainOS apart from traditional enterprise resource planning (ERP) systems, such as those offered by Oracle, QAD, or Plex, is its rapid deployment timeframe. While traditional ERP solutions can require months or even years for full implementation and often necessitate additional tools, such as TraceGains or Redzone, to become truly effective, KeychainOS can be fully deployed within just a few days. It is purpose-designed specifically for the CPG sector, enabling manufacturers to streamline their operations.
Manufacturers using KeychainOS are already reaping the benefits, managing crucial aspects of their business, such as safety protocols, waste reduction, bottleneck predictions, and real-time planning adjustments. This functionality is vital in today’s fast-paced manufacturing environment, where efficiency and adaptability are key to success.
Since its launch in February 2024, Keychain has significantly grown its AI-powered sourcing platform, now facilitating over $1 billion in manufacturing projects each month. The platform has successfully onboarded more than 20,000 brands and retailers into its thriving ecosystem. Recently, Keychain has expanded its reach into the beauty and personal care sector, further showcasing its flexibility and applicability across various consumer goods categories.
As a result of this new funding and the impending launch of KeychainOS, the company aims to continue its expansion into new CPG verticals while enhancing its AI capabilities to meet the growing demand within the industry. Through these efforts, Keychain is poised to further establish itself as the leading modern operating system for manufacturing, shaping the future of the CPG industry for years to come.
KEY QUOTES:
“We’ve grown quickly because the demand is clear. Manufacturers are being asked to do more with less, and the systems they rely on simply aren’t built for today’s complexity. Applying AI allows KeychainOS to give manufacturers a smarter, faster way to run their facilities, and it’s already delivering real results.”
Oisin Hanrahan, Co-founder and CEO of Keychain
“Keychain is an ambitious new approach to connect buyers with manufacturers. The tool allows our teams to better identify prospective manufacturers who can meet the requirements of our product roadmap.”
Tom Hermes, Vice President Sourcing & Product Development, Whole Foods Market
“Keychain has demonstrated a strong ability to bring new products to market quickly while scaling their operations effectively. Their approach addresses clear gaps in the CPG supply chain by offering a more streamlined and connected alternative to traditional ERP systems to create a more efficient, resilient, and connected ecosystem for manufacturers.”
Molly Breiner, Sector Lead, Private Climate Investing at Wellington Management
