Nexkey Raises $6M Series A Round, Opening the Door to Next-Generation Mobile Access Solutions

SAN MATEO, Calif., Oct. 10, 2019 /PRNewswire-PRWeb/ -- Nexkey, an end-to-end provider of mobile access control solutions, today announced that it has raised a $6 million Series A round led by Upfront Ventures. Manu Kumar's K9 Ventures, Mark IV Capital and Anand Chandrasekaran, former Head of Platform for Messenger at Facebook also participated in the round.

Nexkey's secure, cloud-connected app turns any smartphone into a digital key, allowing businesses to do away with cumbersome keycards, fobs, and metal keys. Administrators can use the Nexkey app to send smart keys, manage when and how users can access a given space, and remotely unlock doors for guests.

Nexkey also offers two unique hardware solutions that can turn any existing doorway into a fully functional smart door. The Nexkey Controller ties any electrified door, from commercial entrances to driveway gates, garage doors or elevators into the Nexkey ecosystem. The Nexkey Core, meanwhile, is a smart cylinder that can transform any existing mechanical lock into a smart lock in under two minutes.

"There are more than 300 million commercial doors in the United States and Nexkey is the only provider that is universally compatible," said Aditi Maliwal, partner at Upfront Ventures and former Google product manager, who is joining Nexkey's board as part of this investment. "Today's access control solutions don't align with the modern workforce's needs for flexibility and convenience, it's time for change and Nexkey is uniquely positioned to drive that change."

Just six months after Nexkey's launch, the company's mobile access solutions are already revolutionizing the way more than 8,500 active users deal with the daily headaches of fumbling for their keys: the Nexkey app automatically recognizes and selects matching smart keys as individual users approach different doors. Users who do not have the Nexkey app can unlock doors via text messages with a unique code.

Nexkey's offerings are proving especially useful for businesses such as coworking spaces, gyms, and real estate offices, which have a constant influx of new tenants, members, contractors, and other visitors. "Nexkey has dramatically increased our efficiency by making access to our space totally frictionless," said Amir Mortazavi, CEO of Canopy, a San Francisco-based coworking spaces chain. "We took a close look at everything that's on the market, and Nexkey came out on top. We got their solution installed throughout 32 private offices in under eight hours ?? it was crazy fast."

Businesses can track how their smart keys are being used in real time via the Nexkey App or Web Portal, delivering actionable intelligence and streamlining staffing and customer-service logistics. Nexkey's customers can also integrate Nexkey's API with their own apps and devices to create truly integrated and customized access experiences for their employees and customers.

"The $8 billion access control market is ripe for disruption and our Series A round will help us become the new standard of access,'" says Eric Trabold, Nexkey's CEO. "We make the installation process extremely easy, fast and affordable, so every business can take advantage of the numerous benefits that come with mobile keyless entry."

About Nexkey

Nexkey makes smart, secure, and simple access possible for every business through hardware and software components which consolidate all of a business's traditional keys into a single cloud-based platform. Nexkey's hardware is compatible with every door, and is designed to blend into any space. Managers can oversee access to their whole space using one convenient mobile app. Nexkey was founded in 2013 and is backed by top-tier VCs including Upfront Ventures and K9 Ventures. For more information, please visit https://www.nexkey.com/.

SOURCE Nexkey