Turnkey has raised $12.5 million in a strategic investment round backed by Archetype, Circle Ventures and existing investors, bringing its total funding to more than $65 million.
Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, Sequoia Capital and Variant are also involved. This funding follows Turnkey’s $30 million Series B round last year, led by Bain Capital Crypto, and its $15 million Series A round in 2024, led by Lightspeed Faction and Galaxy Ventures.
Turnkey builds wallet and key management infrastructure for crypto applications. The company said the new funding will support the development of a “turnkey verification cloud,” a secure computing product for digital assets and sensitive workloads, ahead of its public launch.
The New York-based company was founded by former Coinbase Custody employees Bryce Ferguson and Jack Kearney. Its infrastructure is used for non-custodial wallets, automated on-chain transactions, and policy-controlled signatures.
Circle Ventures’ participation ties the round to the broader push for stablecoin payments. Circle’s USDC business has become a public market indicator of stablecoin growth, with analysts linking Circle’s rise to stablecoin adoption and artificial intelligence agent finance.
Turnkey said customers include Flutterwave, Tools for Humanity’s World App, Polymarket and Anchorage Digital.
The company is positioning verifiable cloud for the next tier of the market. The product is designed to allow companies to run sensitive operations, including transaction visibility, policy decisions and agent-driven wallet activity, in a verifiable environment.
“Stablecoins are changing the way value is transferred online, and artificial intelligence agents are upending traditional security assumptions,” Turnkey CEO and co-founder Bryce Ferguson said in a statement.
Turnkey said the new funding will go towards a verifiable cloud as well as infrastructure for wallets, payments and automated on-chain activity.
