PR99532

DENVER, Feb. 3, 2023 /PRNewswire=KYODO JBN/ --

-- Denver-based business secures Series A Funding through partnerships with

Iron Gate Capital and Kozo Keikaku Engineering.

KoreLock, an emerging IoT Smart Lock technology company, is pleased to announce

funding to support the development and expansion of its Smart Lock technology

and software platform. Private equity firm Iron Gate Capital and engineering

firm Kozo Keikaku Engineering, Inc. have invested in the company alongside

management.

Logo -

https://mma.prnewswire.com/media/1995126/korelock_logo_full_colour_tag_Logo.jpg

KoreLock serves a vast market of lock manufacturers, specialty lock brands, and

software companies looking to convert their existing offline locks into

cloud-connected Smart Locks.

"KoreLock addresses the market need for OEM Smart Lock technology with wireless

integration to access control software services," said Grant Walter, KoreLock

President and CEO. "Traditional lock companies have tried to develop their own

Smart Locks but abandoned these efforts lacking the capabilities to do it

themselves."

KoreLock specializes in embedded printed circuit board solutions that help lock

manufacturers overcome the complexities of developing connected Smart Locks,

reduce costs, and shorten their overall time-to-market.

"KoreLock offers a unique access control solution for the lock manufacturing

industry that fits well with our focus on early-growth stage B2B technology

companies," said AJ Dye, Partner, Iron Gate Capital.

KoreLock's patent-protected technology is embedded in over 50,000 locking

devices in 65+ countries and has been tested and proven for over a decade.

"KoreLock is well-positioned for accelerated growth, anchored by partnerships

with industry-leading lock brands worldwide," added Walter. "We are investing

meaningfully to expand our team, solutions, and customers."

About KoreLock

KoreLock, Inc. (https://c212.net/c/link/?t=0&l=en&o=3773841-1&h=2785803653&u=https%3A%2F%2Fkorelock.com%2F&a=KoreLock%2C+Inc.)

is an IoT technology company that provides turnkey embedded Smart Lock

solutions that enable manufacturers of door locks or access control hardware to

build and sell connected locking devices. Korelock, Inc. is a privately held

company based in Denver, Colorado.

About Iron Gate Capital  

Iron Gate Capital, LLC (https://c212.net/c/link/?t=0&l=en&o=3773841-1&h=3117066128&u=https%3A%2F%2Firongatecapital.com%2F&a=Iron+Gate+Capital%2C+LLC)

is a nationally recognized deal-by-deal private equity firm investing in

market leading "early growth" technology companies on behalf of over 60

families. Iron Gate Capital is based in Boulder, Colorado.

About Kozo Keikaku Engineering, Inc. (KKE)  

KKE (https://c212.net/c/link/?t=0&l=en&o=3773841-1&h=393214966&u=https%3A%2F%2Fwww.kke.co.jp%2Fen&a=KKE)

is a professional design and engineering firm that acts as a bridge between

the academic and business worlds. KKE strives to solve various issues and

challenges that society faces, utilizing its engineering expertise acquired

through knowledge exchanges in diverse fields. KKE is based in Tokyo, Japan.

Contact: Grant Walter, President and CEO, KoreLock, Inc.

grant.walter@korelock.com, 303.681.5785

SOURCE: KoreLock, Inc.