Turnkey has raised $12.5 million in a strategic investment round backed by Archetype, Circle Ventures, and existing investors, bringing total funding to more than $65 million.
Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, Sequoia Capital, and Variant also participated. The raise follows a turnkey $30 million Series B led by Bain Capital Crypto last year and a $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 funding will support the development of its turnkey verifiable cloud, a secure computing product for digital assets and sensitive workloads, ahead of its general availability.
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 this round into a broader push for stablecoin payments. Circle’s USDC business has become a public market proxy for stablecoin growth, with analysts linking Circle’s rise to stablecoin adoption and AI agent financing.
Turnkey said its customers include Flutterwave, Tools for Humanity’s World App, Polymarket, and Anchorage Digital.
The company is positioning Verifiable Cloud as the next tier of its market. The product is intended to enable enterprises to perform sensitive operations such as transaction visibility, policy decisions, and agent-driven wallet activity in a verifiable environment.
“Stablecoins are transforming the way value moves online, and AI agents are upending traditional security assumptions,” Turnkey CEO and co-founder Bryce Ferguson said in a statement.
Turnkey said the new funding will go toward Verifiable Cloud and infrastructure for wallets, payments, and automated on-chain activities.
