KeyMe raises $35 million to duplicate keys with AI
Summary
Normally, duplicating a key would require an expensive trip to the locksmith, but New York-based KeyMe — which was founded in 2012 by Greg Marsh, former director of finance at auto tech company Aperia Technologies — hopes to change the paradigm with a network of key-scanning kiosks. “We are excited to work with the Brentwood team to expand our services to build the most trusted brand in the locksmith industry.” KeyMe offers key duplication and locksmith services at over 3,000 locations in retailers across 49 states (up from 2,300 locations and 46 states as of April 2019), including Albertsons, Autozone, Bed Bath & Beyond, Giant Eagle, Ikea, Kmart, Kroger, Menard’s Rite Aid, Sears and Kmart, and 7-Eleven. Some experts say tech like that of KeyMe and rivals MinuteKey and My Key Machine make it too easy to copy electronic access cards, enabling criminals to clandestinely gain entrance to high-security properties. But Marsh and Brentwood Associates partner Eric Reiter assert that KeyMe has mechanisms in place that can suss out key owners, including time stamps, security footage from kiosks, and payment logs. “Leveraging incredibly sophisticated technology and delivering a highly differentiated, convenient and satisfying consumer experience, KeyMe is nonpareil in the locksmith industry,” Reiter said.