Keychain, an AI-powered marketplace, secured a $30 million Series B funding round. Wellington Management led the investment. BoxGroup and other existing investors also participated. This brings Keychain's total capital raised to $68 million since its 2023 launch.
The company simultaneously unveiled KeychainOS, a new AI operating system for consumer packaged goods (CPG) manufacturers. This system aims to replace or integrate with legacy enterprise resource planning (ERP) tools.
Enhancing CPG Manufacturing with AI
KeychainOS offers a faster, CPG-specific alternative to traditional ERP systems like Oracle, QAD, and Plex. These legacy systems often require extensive setup and add-ons. Consequently, KeychainOS integrates seamlessly with Keychain's existing sourcing platform, designed for rapid implementation within days.
Keychain initially focused on a search-and-discovery tool for brands and retailers to find manufacturers. This initial product quickly gained traction, serving over 20,000 brands and retailers and thousands of manufacturers. Currently, 8 of the top 10 U.S. retailers and 7 of the top 10 CPG brands, including 7-Eleven, Whole Foods, and General Mills, utilize Keychain's platform.
KeychainOS leverages AI to streamline manufacturing operations. It minimizes manual data entry through natural-language interfaces and automated data ingestion. Moreover, the system supports multimodal input, incorporating computer vision, connected scales, and voice for data capture on the factory floor.
Furthermore, KeychainOS features AI-powered adaptive checklists. These checklists adjust based on responses, ensuring compliance and quality checks are both standardized and responsive.
