Turnkey raises $12.5M backed by Circle Ventures and Sequoia to launch Verifiable Cloud!

Turnkey has closed a $12.5 million strategic round backed by Archetype, Circle Ventures, Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, Sequoia Capital, and Variant — pushing its total funding past $65 million. The capital will go toward developing and publicly launching Turnkey Verifiable Cloud, a secure computing product designed to let companies run sensitive digital-asset operations in a cryptographically verifiable environment.

Founded by former Coinbase Custody employees Bryce Ferguson and Jack Kearney, Turnkey builds the wallet and key-management infrastructure layer beneath non-custodial wallets, automated onchain transactions, and policy-controlled signing. Customers already include Flutterwave, Tools for Humanity's World App, Polymarket, and Anchorage Digital.

Circle Ventures' participation is the strategic signal worth watching: it ties Turnkey's infrastructure…