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 also participated. The raise follows Turnkey’s $30 million Series B, led by Bain Capital Crypto last year, and its $15 million Series A, led by Lightspeed Faction and Galaxy Ventures in 2024.
Turnkey builds wallet and key-management infrastructure for crypto applications. The company said the new capital will support development of Turnkey Verifiable Cloud, a secure computing product for digital assets and sensitive workloads, ahead of its public launch.
The New York-based firm was founded by former Coinbase Custody employees Bryce Ferguson and Jack Kearney. Its infrastructure is used for non-custodial wallets, automated onchain transactions and policy-controlled signing.
Circle Ventures’ participation links the round to a broader push around stablecoin payments. Circle’s USDC business has become a public-market proxy for stablecoin growth, with analysts tying Circle’s rally to stablecoin adoption and AI agentic finance.
