Revolutionizing the Relationship Between Brands and Manufacturers with Keychain
In today’s consumer market, many brands have become distant from the manufacturers responsible for creating their products. Keychain CEO Oisin Hanrahan highlights this disconnection, stating that brands only possess a brand name and marketing functions. Hanrahan seeks to change this dynamic by introducing Keychain, a platform that enables brands to identify the manufacturers of various products and potentially partner with them for future collaborations.
To demonstrate the platform’s capabilities, Hanrahan used the example of granola and yogurt. By utilizing Keychain, a large retailer can identify the manufacturers of these products and work with them to create private label versions or explore the development of healthier and more environmentally friendly alternatives.
Hanrahan, along with Umang Dua, previously founded Handy, a home services marketplace that was later acquired by ANGI Homeservices. After their tenure at ANGI, the duo, along with Jordan Weitz, established Keychain. The New York-based startup raised an impressive $18 million in seed funding led by Lightspeed Venture Partners in November 2023. Keychain officially launched in February and has since facilitated $500 million worth of manufacturing demand for major brands and retailers.
Behind the scenes, Keychain utilized the substantial funding to build an extensive product database. Leveraging artificial intelligence (AI), the platform combines purchased and firsthand data to index over 763,224 products from 24,027 manufacturers. This vast database allows brands to easily access and connect with the right manufacturers for their specific needs.
Keychain is rapidly expanding its operations and impact. The company recently established an office in Austin and secured Carvel cake-maker Rich Products as a customer. Additionally, Mitchell Madoff, formerly in charge of private label offerings at Whole Foods, joined Keychain as its head of retail partnerships.
Partnerships with Keychain have proven to be transformative for businesses. Rich Products’ regional president for the U.S./Canada, Kevin Spratt, described the collaboration as a strategic move that empowers them to drive growth, foster innovation, and deliver unique value to their customers. Paul Voge, co-founder and CEO of beverage company Aura Bora, praised Keychain for streamlining their supply chain and saving valuable time and resources.
Hanrahan attributes the increasing demand for Keychain to various market forces. Factors such as U.S. trade policies favoring domestic manufacturing and growing consumer interest in personalized nutritional and allergy-specific products contribute to the platform’s success. Ultimately, Keychain aims to connect anyone looking to create a product with every aspect of the supply chain, from manufacturers to packaging. Hanrahan envisions Keychain as the software layer that seamlessly brings together all these crucial components.
