Manufacturing  October 2, 2014

Minute Key Inc. completes $30M funding round

BOULDER – Minute Key Inc., which does business as minuteKEY, announced that it has landed a $30 million funding round from Main Street Capital Corp. (NYSE: MAIN).

The Boulder-based startup, founded in 2008, makes self-service automated key duplication kiosks for use at large chain retailers.

“This new capital infusion gives minuteKEY the ability to continue to aggressively pursue our business plan, and we’re pleased that Main Street shares our enthusiasm and confidence in this business,” minuteKEY chief executive Randy Fagundo said in a press statement.

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The big funding boost continues a nice run of momentum for the company. In August, the company was ranked 11th on Inc. magazine’s annual list of the 5,000 fastest growing private companies in the country.

The company saw revenue grow from $107,446 in 2010 to $15.7 million in 2013. The company also more than quintupled its employee count during that time to 113.

With minuteKEY, consumers walk up to a kiosk, insert the key they’re duplicating and select the style and other parameters they need on a touch screen. The new keys are cut in about 60 seconds once payment is made.

Fagundo said the company recently cut its 20 millionth key.

“We are particularly excited by the minuteKEY opportunity as they fill a key duplication niche that helps drive revenue for retailers and provides a superior solution for consumers,” said Colton Braud of Main Street.

MinuteKEY has now raised more than $81 million in venture funding, with earlier investors including Matrix Partners and Serent Capital.

BOULDER – Minute Key Inc., which does business as minuteKEY, announced that it has landed a $30 million funding round from Main Street Capital Corp. (NYSE: MAIN).

The Boulder-based startup, founded in 2008, makes self-service automated key duplication kiosks for use at large chain retailers.

“This new capital infusion gives minuteKEY the ability to continue to aggressively pursue our business plan, and we’re pleased that Main Street shares our enthusiasm and confidence in this business,” minuteKEY chief executive Randy Fagundo said in a press statement.

The big funding boost continues a nice run of momentum for the company. In August, the company was…

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