New York-based KeyMe, a leading robotics and artificial intelligence company in the locksmith industry, announced it raised $50 million in growth financing from funds managed by the global credit team at BlackRock. KeyMe offers residential, commercial, and vehicle key duplication services from its network of more than 2,300 smart kiosks deployed in leading retailers across the country including Acme, Albertsons, AutoZone, Bed Bath & Beyond, Brookfield, Foodmaxx, Frys, Giant Eagle, GGP, Harmon Face Values, JLL Properties, Kmart, Kroger, Ralphs Grocery, Randalls, Rite Aid, Safeway, Save-A-Lot, Save Mart, Sears, Simon Malls, Starwood, Tom Thumb, and 7-Eleven among others.
“Our team is focused on providing unrivaled customer experience in this $12 billion a year industry,” said KeyMe CEO Greg Marsh in a statement. “This new round of investment from BlackRock will allow us to further accelerate our product roadmap and increase our national reach as we bring our service to tens of millions of consumers and businesses.”
With this funding round, KeyMe is going to rapidly expand its kiosk footprint in both new and existing retailers. Currently, KeyMe is the highest-rated service provider in the industry with a rating of 4.8 out of 5.0 stars from 20,000 reviews on Google compared to the industry average of 2.1.
“KeyMe’s expanding roster of retail partners, growing national footprint and exceptional leadership team underlines the company’s strong service offering and value proposition,” added Jason Ridloff — a managing director on BlackRock’s global credit team. “We are excited to support KeyMe’s next phase of growth with this investment, which offers our clients the potential for attractive risk-adjusted returns.”
What makes KeyMe kiosks unique is that they have the ability to duplicate the majority of vehicle and RFID keys on the market. And the smart kiosks copy keys in under 30 seconds. And it does this at a rate that is 10 times more accurate than the industry average. Plus the KeyMe iOS and Android mobile apps enable customers to safely scan and save a digital copy of their key.