UniKey locks down $10M funding round

UniKey, which licenses touch-sensitive and smartphone-controlled door lock technologies to lock manufacturers, last week announced a $10 million funding round. Investors included Asset Management Ventures, AXCIT, Broadway Angels, CBRE, ff Venture Capital, Samsung, Haas Portman, Oriza Ventures and others.

Integrated into deadbolts and other locks, UniKey’s technology allows a smartphone to take the place of keys. Users can set up and control the lock through a mobile app, and when an authorized phone is in Bluetooth range, the bolt can be toggled just by touching the lock.

Existing UniKey partnerships include Samsung’s KNOX line of enterprise security solutions, andKwikset’s Kevo locks that replace standard deadbolts with a quick DIY installation. Since January, Kevo locks have been integrated with the Nest smart thermostat.

As the company moves forward, UniKey plans to expand its international presence and go after more vertical markets beyond the smart home. “I see the smart lock market in enterprise, government and commercial skyrocketing to 12 billion units worldwide by 2020 and I’ve positioned UniKey to leverage this booming space,” wrote founder and president Phil Dumas at the company blog. Hotels seem to be at the top of the list, though eventually UniKey products could find their way into a much broader range of buildings and even vehicles such as rental cars.

Related: Wireless Smart Door Locks