WINTER PARK, Fla.--(BUSINESS WIRE)--UniKey, the smart lock category creator and industry leader in smart access control technology, today announced it has secured $10M in an oversubscribed Series A round from renowned investors: Asset Management Ventures, AXCIT, Broadway Angels, CBRE, ff Venture Capital, Samsung, Haas Portman, Oriza Ventures and other prominent global investors. The investment will accelerate UniKey’s capital efficient smart access licensing strategy for new markets and international regions.
“UniKey is positioned for rapid growth with its smart lock technology that unleashes a connected and updated way for homeowners to secure their home via their smartphones. We are excited to participate in the company’s Series A round and support an enterprise-grade security technology that fits well within our home automation technology,” said Luis Arbulu, Director at Samsung Global Innovation Center’s Investment Division.
UniKey licenses its technology to leading global manufacturers, bringing partners increased smart access functionality to any lock in their portfolio for leading-edge localized product, higher productivity, greater revenues, and increased security, control and audit capabilities. This highly capital efficient model allows the company to remain lean on overhead and focused on building the best product with next-generation research and development, without the burden of manufacturing hardware or the distractions of building new channels from scratch in each market and geography.
“In security, hardcore security technology always trumps design. UniKey has both right," states Sonja Hoel Perkins, Founder of Broadway Angels, Managing Director at Menlo and veteran security investor. "UniKey’s unique blend of leading edge smart lock security and ultra-convenient, keyless entry make all Unikey-powered locks best-in-class. Locking and unlocking doors will never be the same again."
“We’ve pioneered the smart lock category for the residential market five years ago and now UniKey leads the market with the most convenient and secure access solution for businesses and consumers worldwide,” said Phil Dumas, UniKey founder and president, who took the idea on ABC’s ‘Shark Tank’ in 2011 before the smart lock category existed.
“The global market pull has been tremendous and this funding will help us maximize those opportunities with international partners. UniKey has expanded its cloud-based access control platform beyond the residential market and with this new capital, we can rapidly scale to deliver solutions with the local market leaders to new international regions and to additional platform expansions tailored for vertical markets larger than the smart home market,” added Dumas.
“Haas Portman invests in market disrupters that can provide unique technology upgrades to hotel and real estate properties across our entire portfolio and affiliates,” says Grant Haas of Haas Portman. “Change is inevitable and you’re either leading the pack or you’re following the Alpha, and many upstarts are still trying to make up deficits through marketing, cosmetics and back-filling product and security holes. We’re invested in UniKey as the market pioneer and a true innovator that is positively affecting people’s lives in a way that respects their traditional tastes and modern sensibilities.”
UniKey recently announced integration for the Kwikset Kevo™ powered by UniKey with the Nest Learning Thermostat™ through the Works with Nest program to enable personalization of thermostat preferences for everyone in the household individually and provide even greater energy savings in smart homes and smart businesses. Samsung KNOX also chose UniKey as a partner for highly secure enterprise, government and commercial smart access management. Additional integrations with market leaders are being launched this year to enhance connected smart building functionality even further.
“At NextMarket Insights we believe the smart lock market will be a $3.6 billion market by 2019 worldwide,” said Michael Wolf, NextMarket Insights founder and chief analyst. “As consumers look for technologies that enable simpler, more convenient lifestyles, we believe smart locks will be one of the key smart home growth categories in coming years as consumers realize the simple appeal of turning their phone into digital keys. The ability to send digital keys to friends and family and track usage are clear benefits that consumers can instantly understand."
UniKey’s access control platform powers the first keyless entry system that can be integrated into any lock. UniKey’s technology replaces keys, cards, codes and passwords by turning your smartphone into a convenient, universal electronic key. This technology affords secure and intelligent access by simply touching your door lock without ever needing to remove your phone from your pocket, purse or backpack. UniKey’s renowned investors and partners represent the world’s largest commercial and residential real estate owners, operators and developers representing hundreds of billions of dollars in real estate and tens of millions of locks and access points globally. Serving the mass market by licensing its technology, UniKey works in partnership with global market leading companies worldwide, including Kwikset for the Kevo Bluetooth residential door application, MIWA for hospitality solutions, Microsoft for Azure global cloud solutions, and NEST for smart building thermostat integrations.