Turnkey raises $12.5M to expand verifiable cloud

Turnkey announced it raised $12.5 million in strategic funding from Sequoia Capital, Bain Capital Crypto, Circle Ventures, Archetype, Lightspeed Faction, Galaxy Ventures and Variant. The round brings the startup’s total funding to more than $65 million.

The company plans to use the capital to continue developing Turnkey Verifiable Cloud and to prepare the product for a public launch after a private beta that began in November. Turnkey provides wallet and key management tools for creating non-custodial wallets, automating on-chain transactions and enforcing policy-controlled signing.

Turnkey Verifiable Cloud is designed to run sensitive operations inside isolated secure enclaves and to produce cryptographic proof that the intended code executed in a trusted environment.

Customers named by the company include payments firm Flutterwave, Tools for Humanity’s World App, prediction market Polymarket and Anchorage Digital, which Turnkey listed as an early beta user building transaction visibility tools.

The company has expanded its product lineup to include transaction management, gas sponsorship, verifiable wallets, verifiable policy decisions and fiat onramps through Coinbase and MoonPay. Turnkey offers packaged solutions aimed at agentic wallets, payment orchestration and smart contract management.

In a statement, Bryce Ferguson, Turnkey’s co-founder and chief executive, wrote: “Stablecoins are transforming how value moves online, and AI agents are upending traditional security assumptions. Turnkey builds verifiable infrastructure that secures both on-chain transactions and the off-chain systems they depend on.”

Turnkey describes Verifiable Cloud as applying the same attestation model used for wallet keys to workflows such as transaction processing, compliance operations, sensitive state management, attested data feeds and privacy-preserving computation.

The company did not provide a timeline for a public release and noted it will continue work on cryptographic proofs of execution and integrations with payment rails and developer tools.