New Markets, Eliminate Keys
Orlando, Fla. — UniKey Technologies, Inc., a graduate of the University of Central Florida Business Incubation Program and a leader in smart access control, recently received $5 Million in venture capital from existing investors, including Samsung NEXT, as well as two additional strategic investors.
Phil Dumas, founder and CEO of UniKey, said his company has raised more than $20 million in equity and debt since it started as an Incubator client. In 2013 UniKey partnered with Kwikset and released the Kevo, the world’s first smart lock in the residential market. Today, UniKey has 15 customers, spanning 65 countries using their smart lock technology.
UniKey is now expanding into the commercial IoT¹ industries through recent partnerships with Nortek and Grosvenor. “Companies want to provide their employees and customers with convenience by using their phones to access businesses without special keys or cards. Our technology makes that possible.
”With customer experience being top-of-mind for every manufacturer, transformative change in the access control industry is now occurring through UniKey’s smart lock platform. “We partner with OEMs (Original Equipment Manufacturer) who want to integrate our technology into their own products,” said Dumas.
Dumas also said UniKey is looking to expand and add at least five new hires to the team by year end. Positions will focus on software engineering and development.
The strategic plan is to move the entire keychain to the phone, in a more convenient way than a key. Then the goal will be reached. Access to the home, business and vehicle with a phone, dramatically improving the economics, mobility, and robustness of wireless access and how we live.
Upon graduation from the UCF Business Incubator, UniKey relocated a few times and is now settled in at its new headquarters in downtown Orlando at 111 W. Jefferson St. and opened a satellite office in Silicon Valley at 68 Willow Rd. Menlo Park, Calif.
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¹The Internet of things (IoT) is the inter-networking of physical devices, vehicles (also referred to as “connected devices” and “smart devices”), buildings, and other items embedded with electronics, software, sensors, actuators, and network connectivity which enable these objects to collect and exchange data.
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About the University of Central Florida Business Incubation Program:
The University of Central Florida Business Incubation Program is a community resource that provides early-stage companies with the tools, training and infrastructure to become financially stable, high growth / impact enterprises. Since 1999, this award-winning program has helped hundreds of local startup companies reach their potential faster by providing vital business development resources.
With seven facilities throughout the region, the UCF Business Incubation Program is an economic development partnership between the University of Central Florida, the Corridor, Orange, Osceola, Seminole and Volusia Counties, and the cities of Apopka, Kissimmee,Orlando and Winter Springs. Participating companies sustain more than 3,600 local jobs and have had a total impact of $1.51 Billion on regional sales and $2.48 Billion on regional economic output. During the last fiscal year, the program has returned $7.95 for every $1.00 invested in the program. Visit www.incubator.ucf.edu.