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    Date submitted
  • 26-Jun-2018

Keybot

Abstract

Keybot is automating access to the rental properties for property managers. With Keybot lock, property managers can share keys digitally to verified third parties, rekey locks & manage access centrally. Keybot can slash access related cost in half & create a revenue generation opportunity for the property managers. Keybot has graduated from three accelerators from three continents including Techstars Barclays in June 2018. Keybot has pre-sold over $3M of hardware to large property management firms. Divyesh Panchal (co-founder & CEO) spent 15 years as tech executive in fortune 500, owns 200 rental properties in St Louis, MO and has a keen appreciation of pain related to property management!

Video

Original YouTube URL: Open

Introduction Video

Additional Questions

Who is your customer?

Large residential property managers with at least 5,000 rental properties under management.

What problem does this idea/product solve or what market need does it serve?

On average, property managers spend at least $300 per door annually in labor & hard cost in managing access for property showings, third party contractors, repairs, changing locks, lock rekeys & lost keys. Existing smart locks in the market require WiFi for giving temporary access whereas 98% of empty rentals lack WiFi. Smart deadbolt locks pose a major security risk as 70% of the time doors are left open after temporary access. There is no smart lock in the market that can perform ID verification of a person accessing the property.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

- Keybot smart lock works offline. No need for WiFi. - Keybot app verifies identity for third-party access. - Full API available for third-party app integration.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Divyesh is a second generation manufacturing entrepreneur. Divyesh owns 200 rentals in St Louis and has a keen appreciation of issues in property management. Keybot is the only lock with Integrated ID verification for showings & third party contractor access. IP protection (provisional patent filed).