Business Services: Self-Service Retail Platform
Partnering with Company to Build Business through Rapid Growth Phase
In September 2011, Serent invested in the developer of the world's first self-service key duplication machine. The Company will use the funds to expand its presence with leading retailers nationwide.
Founded in 2008, the Company is revolutionizing the key duplication industry by changing the way customers duplicate keys - transforming an inconvenient and labor intensive process into a simple turn-key solution. Customers simply walk up to a key duplication kiosk, and using a touchscreen, select the style and number of keys they need. Upon making their payment and inserting the key for duplication, new keys are accurately cut in approximately 60 seconds.
The Company was presented with the New Product Launch Spotlight Gold Award at the 2011 National Hardware Show for its high-tech achievement in combining innovations in robotics, electronics and software engineering. At time of investment, the Company had an installed base of over 100 kiosks in high-traffic locations of some of the nation's largest retailers with plans to expand that by an order of magnitude.
Serent is working closely with the executive team to further build out the management team, provide customer introductions, and support the Company's efforts in operational improvements, consumer marketing and financial planning.