Rathcoole-born Hanrahan has now raised $78m for the supply chain AI software firm
It brings to $78m (€67m) the total funding raised by the New York based firm, co-founded by Rathcoole-born Hanrahan.
The new funding will fund the rollout of the company’s supply chain and product management platform, called Keychain360, which is designed to help retailers to develop and manage their own ‘private’ label brands.
Hanrahan, 42, is one of Ireland’s best-known technology exports. From 2011, he raised almost $100m for Handy.com, a cleaner-for-hire service in the US, and then sold it to Nasdaq-listed Angi, reportedly for around €150m.
Hanrahan started out as a property developer in Hungary as a teenager before attending Harvard Business School, where he met the co-founder of Handy.com (and later, Keychain), Umang Dua.
Keychain has expanded from the US into Ireland, where it has an office, and the UK.
It claims eight of the top ten global retailers as customers plus 7-Eleven and Whole Foods, as well as seven of the top ten CPG brands, including General Mills.
The company claims to support over 30,000 manufacturers and 20,000 brands and retailers.
“With speed and transparency increasingly shaping the market, Keychain360 gives private label brands the advantage,” said Hanrahan.
“Retailers can now manage their products end-to-end, innovate rapidly, and adapt to consumer preferences and regulatory changes, all within a single connected platform.”
W23 Global is a venture capital fund backed by the grocery retailer groups Tesco, Ahold Delhaize, Woolworths Group, Empire Company Limited/Sobeys Inc and Shoprite Group.
“Keychain’s AI-powered platform streamlines private label sourcing and enables retailers to bring quality private label products to customers faster and more efficiently,” said Ingrid Maes, CEO and CIO of W23 Global.
“As consumer expectations around health, sustainability, and value continue to rise, Keychain’s solution helps retailers respond to these expectations effectively while ensuring compliance and product quality.”
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