Last year, we reported that Oisin Hanrahan, former CEO and Chief Product Officer of Angi, raised $18 million in seed funding to launch Keychain. This innovative company is focused on creating an AI-powered web platform designed to connect consumer packaged goods (CPGs) retailers—particularly large grocery chains selling in-house brands—with the manufacturers who produce and package their products.
Now, just over two months later, Keychain has officially unveiled its web platform. Even in its initial 1.0 version, the platform is ambitious, featuring over 24,000 CPG manufacturers and more than 760,000 products, all aimed at transforming the industry.
Keychain offers retailers a streamlined web interface where they can browse manufacturers, access detailed descriptions and locations, and sort them by specific capabilities (such as nut-free or organic options). Retailers can check costs and connect directly with manufacturers, even reserving production times, which significantly enhances clarity and convenience in the procurement process.
Additionally, retailers may opt to manufacture products through Keychain’s exclusive partners, who pay for visibility, or tap into wholesale excess capacity from companies not actively advertising their services, ensuring competitive pricing and access to a wider range of options.
Keychain leverages cutting-edge generative AI to facilitate precise searches across its extensive database. This innovative approach replaces the outdated methods usually employed by CPG retailers, such as cold calling, attending trade shows, and managing spreadsheets.
By logging into Keychain, CPG retailers—especially larger brands—can find pre-set accounts showcasing existing products and suggested manufacturers.
In a recent interview, Hanrahan emphasized that Keychain streamlines the discovery process for both retailers seeking manufacturers and manufacturers seeking clients. “If you’re a brand or retailer, you know who can make what, and if you’re a manufacturer, you know which products you should be making,” he explained.
Keychain's model bears similarities to Airbnb, linking retail CPG brands—like Trader Joe's or Target—with manufacturers equipped to meet their needs. It also parallels Angi’s role in connecting homeowners with service providers for household projects.
The platform currently boasts $120 million in organized manufacturing capacity across 40 product categories. This extensive database is powered by AI, using three distinct machine learning models that analyze product images, assess ingredients and descriptions, and evaluate manufacturer capabilities.
When asked whether these models were based on existing frameworks from companies like OpenAI or Meta, Hanrahan noted the use of a combination of open-source and proprietary models that have been customized and retrained.
Keychain has received positive endorsements from industry leaders, including Paul Voge, CEO of Aura Bora, and Kelly McGoldrick, Chief Customer Officer at Wyandot Snacks. They praised Keychain's ability to share critical production process and capacity information—features that are novel within the industry.
Keychain plans to roll out its core platform to select retailers and brands in 2024, currently limiting access to invited partners. With its advanced AI capabilities and a vast network of manufacturers, Keychain aims to simplify the establishment and management of manufacturing partnerships, helping brands bring products to market more efficiently.
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