Keychain is raising an undisclosed amount of money in a Series A round led by Sequoia Capital and Andreessen Horowitz.
The company, which makes keychain-like wristbands, said it raised $1.5 billion in a series A round in January, with the goal of expanding its distribution and sales by 2025.
The startup plans to add more than 2,000 employees over the next three years and expand its sales, including the creation of new branded products and marketing campaigns, according to the announcement.
Keychain has a long history of working with companies to make products that help people more securely carry and store their electronic devices.
Last year, the company launched a new line of wearable wristbands that have a keychain function, a new version of its keychain that’s waterproof, a smartwatch that can store photos, and a digital wallet that can be used for online purchases.
It said it expects to sell the products by the end of the year.
Keychains are already widely used around the world, with people all over the world carrying them around in their pockets or purses.
The keychain is a popular device for the growing smartphone and tablet market, where many people keep their digital keys in their hands, with most smartphones already providing the option of having one’s digital keys encrypted, according, to research firm Forrester.