KeyMe kiosks to spread through convenience stores

KeyMe, the cloud-based locksmith, will be covering more 7-Eleven convenience stores after a $20 million investment has been announced.

The locksmith company which saves and duplicates nearly every type of key has announced a $20 million Series B round of financing led by Comcast Ventures with additional participation from Battery Ventures, White Star Capital, 7-Ventures, the venture arm of 7-Eleven, and others.

The investment will enable KeyMe to launch its next generation of kiosks in new markets nationwide, expand its proprietary technology and executive team, and scale kiosk production.

7-Ventures LLC is convenience-store retailer 7‑Eleven’s corporate-venture arm, focused on discovering, partnering and investing in consumer facing technologies that complement 7‑Eleven’s core business of providing customers with convenient products and services.

“KeyMe and 7-Eleven began our commercial partnership with a pilot in 2013. Over the past three years, we became an investor through 7-Ventures,” said Raja Doddala, 7-Eleven Vice President of Omnichannel and New Ventures.

“We look forward to broadening our relationship with KeyMe with a commitment to expand kiosk deployment to more 7-Eleven stores in 2016,” he added.

KeyMe also announced a major expansion in other retail chains such as Sears, Kmart, Bed Bath & Beyond, Rite Aid, Lowe’s, Albertsons, and several other big name retail brands.

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