KeyMe Locksmiths is a company that provides automated key copying and locksmith services using both robotic kiosks, found in retail stores, and a nationwide network of locksmiths for emergency services. Pulse 2.0 interviewed KeyMe Locksmiths President & Founder Greg Marsh to gain a deeper understanding of the company.
Greg Marsh’s Background
Could you tell me more about your background? Marsh said:
“Right out of college, I worked in finance and was part of a six-person investment team managing a $1 billion portfolio. I learned a lot on this job, but I knew deep down that my desire was to operate and build something. So, I left that role and joined a hardware startup in the Bay Area as their first employee. This learning experience was incredible for me as I gained insight into what it takes to start a company from scratch, how to build a product, and how to raise capital. My early experiences were all instrumental in putting me on the path to entrepreneurism and, in turn, the creation of KeyMe Locksmiths.”
Formation Of The Company
How did the idea for the company come together? Marsh shared:
“Before starting KeyMe Locksmiths, I didn’t have experience in the locksmith industry. I moved to New York City to attend Columbia Business School, and one night, while I was out of town, my wife accidentally locked herself out of the house. I thought to myself – there’s got to be a smarter, more tech-savvy way to solve lockouts that’s both easier and more cost-efficient than having to call a locksmith to come to the house.”
“I started digging into the category and was surprised to discover this was a $12 billion a year industry in the U.S. What’s more, almost no one in the industry was thinking about the business from a technology perspective. I recognized that there was a huge opportunity to change how keys are made and improve the experience in the category. So, I dropped out of school to create the first-ever locksmith brand in this industry. That’s what led me to where I am today.”
Favorite Memory
What has been your favorite memory working for the company so far? Marsh reflected:
“A memory that stands out was in our first year or two of operating. We were very focused on hardware and software development. At the time, we were building a highly complex robot to copy keys. We’d done a lot of user testing, but never really had a kiosk deployed for regular consumers to approach and use in a real environment. So, we set up our very first prototype at a community college in Queens, New York.”
“Once it was in place, we hid around a corner and watched as one student after another discovered the kiosk and started using it. Word of mouth spread, and soon there was a line of students wanting to make new keys using the unique key designs available from the machine. This was a very rewarding and validating moment to see people using our product after so much hard work. It was also a very important lesson for us. From that day forward, whenever we launch new products and services, we stay extremely close to the customer to obtain genuine feedback. This helps ensure we are on the right track with what we are introducing before we build anything too real, too soon.”
Core Products
What are the company’s core products and features? Marsh explained:
“KeyMe Locksmiths has revolutionized the key-making process using computer vision to digitally scan and infer the key’s structure with high precision, enabling faster, more accurate duplication. KeyMe Locksmiths’ self-service kiosks leverage advanced robotics and machine learning to duplicate a wide variety of keys, including home and office keys, car keys and fobs, mailboxes and padlocks, and RFID access cards.”
“Our kiosks are currently located in 6,850 retail locations across the country (and expanding!). Customer can choose to save their key in the cloud, and then they can duplicate the key again at any kiosks without having the original in the future by simply logging into their key.”
“We also offer comprehensive locksmith services for residential, commercial, and vehicle locksmith servicing needs. These services include lockout assistance, key replacement, lock installation, and lock repairs. We connect customers to local, professional locksmiths in their areas to help solve their challenges. Our extensive nationwide network of locksmiths ensures fast response times, reliable and cost-effective services, all backed by a 100% satisfaction guarantee.”
“In addition, KeyMe Locksmiths operates one of the leading retail media networks that generates over 2 billion advertising impressions on its kiosks’ touch-screens. Our leading retail media network generates over 1.4 billion monthly impressions, connecting consumers to other brands who are seeking to advertise in-store. This provides additional opportunities for our retail partners to reach customers in-store.”
Challenges Faced
Have you faced any challenges in your sector of work recently? Marsh acknowledged:
“Our biggest challenge recently has been managing the tension between extremely high demand for our self-service kiosks and the realities of producing enough units fast enough. Unlike digital products, each kiosk requires physical components, specialized assembly, and a global supply chain. When demand surges, it isn’t just a matter of hiring more people—it’s about aligning an entire supply chain that stretches across continents.”
“On top of that, tariffs and global trade complexities have made sourcing parts more expensive and unpredictable. To overcome this, we’ve diversified suppliers, redesigned certain elements of our kiosks to rely on more readily available components, and built more capacity throughout the process. It hasn’t been easy, but those steps allow us to continue meeting customer needs while keeping quality and reliability at the center of everything we deliver.”
Evolution Of The Company’s Technology
How has the company’s technology evolved since launching? Marsh noted:
“KeyMe Locksmiths is a very innovation-focused company. We are constantly launching new products and services with an eye toward finding new ways to better serve our customers through advancing technology. The origins of the company were well-defined and simple – we were making simple brass house keys for consumers. Since then, we’ve really expanded the scope of what we offer. We created technologies to replicate car keys of all types, including push-button ignition transponders. We have also since evolved into offering emergency locksmith services as well. The evolutionary path we’ve been on has sprouted from our core concept of having a self-service key copying kiosk, and we continue to look for ways to deliver greater value and simple, convenient experiences for our customers.”
Significant Milestones
What have been some of the company’s most significant milestones? Marsh cited:
“I think the coolest thing for me is the scale achieved so far. We will make more than 10 million keys this year for customers, and we’re now at a size where we’re actually starting to impact the industry. KeyMe Locksmiths has moved the category into new retail channels like grocery, convenience, drug, and more. It’s not common for a company to be able to shift the behavior of millions of consumers on where they go to get products and services. And that is exactly what we have done!”
Customer Success Stories
Can you share any specific customer success stories? Marsh highlighted:
“One of my favorite success stories involves a customer who was getting married in New York. On the day of her wedding, she got locked out. Before her big day, she had used one of our kiosks to create a key and decided to store it digitally in her account. So, after locking herself out of her house, she walked down the block to her neighborhood kiosk. She logged in, quickly printed a spare key, and was able to get all of her things and head to her own wedding. She said we saved her wedding, which was very gratifying.”
Funding
Are you able to discuss funding and/or revenue metrics? Marsh revealed:
“We attracted strong support from leading venture and private equity partners early on, fueling five years of 25%+ annual growth and consistent free-cash-flow positivity. But our greatest achievement is having scaled from a kiosk in a single bodega to a nationwide network spanning thousands of the country’s largest retailers.”
Differentiation From The Competition
What differentiates the company from its competition? Marsh affirmed:
“What really differentiates KeyMe Locksmiths from the competition is that we have more advanced technology and a much more concerted focus on customer experience. Those two things have allowed us to outcompete other vendors in the space and really earn the trust of major retailers, who have very high standards to operate in their stores and serve their customers.”
“I’m particularly proud of the innovation we have brought to this space. We’ve employed computer vision and artificial intelligence to capture key information and use that information to duplicate a key. We can dramatically improve historical processes to make much more accurate keys than previous systems. Through clever design, we can support 50 times as many key types as traditional systems.”
“One of the big problems traditional systems have is effectively identifying the key type. This is called template matching. Because there are thousands of key types, each with subtle differences, it is difficult to distinguish between them. We overcame this problem by using AI and neural networks to capture keys and classify them. We trained neural networks on thousands of key types, allowing the networks to learn how to make their own decisions. As a result, we created a first-of-its-kind method for classifying keys.”
“There is a lot about our kiosks that is innovative, both on the hardware and software side. We designed our kiosks to have the smallest footprint in the category, which is very important to our retailers, where every inch matters. We’ve pioneered some very precise robotics that are the heart of our kiosks. All of this was done with a focus on ensuring the best customer experience.”
Role Of AI
How important has AI been in achieving your goals? Marsh emphasized:
“AI has been instrumental in our product development. We began using neural networks over 12 years ago, long before they gained the widespread popularity they have today. From those early days, we added PhDs to our staff, helping us build these custom neural networks for the particular and unique applications required by the robotics of our kiosks.”
“AI was the perfect technology for solving the problems of classifying keys. At the time, this was a very novel use of neural networks. Today, AI is pervasive. And I believe it will continue to be important for our business. We are making investments in the core technology of classifying and making keys.”
“I think the other opportunity for AI will be in helping us scale quickly. There are already a lot of ways we leverage AI to manage and heal our kiosk network when there are problems. Today, we use AI to automatically perform remote health checks and improve fleet performance without a human having to be involved. We are continuing to leverage our DNA of innovation to think about how to achieve operational excellence.”
Future Company Goals
What are some of the company’s future goals? Marsh concluded:
“Our primary goal is to build the first-ever household brand in the locksmith industry, and we’re well on our way. We are aiming to be in 8,000 locations by the end of this year. We also want to be the dominant way that consumers make car keys. Already, we have advanced the technology and convenience in this area. In addition, we strive to be the leading emergency locksmith in the country, delivering the best possible experience. Our mission is to be the most accessible and responsive when someone gets locked out of their house or car.”
