Dashlane raises $30m to up password protection
Password management platform Dashlane is bringing home $30 million in debt financing today. The investment brings the company’s total funds raised to just over $100 million, reports Julie Muhn at Finovate.
Hercules Capital joins previous investors FirstMark Capital, Rho Ventures, Bessemer Venture Partners, TransUnion, and Silicon Valley Bank. The funds will help Dashlane build out its platform beyond password management into the broader field of identity management.
Dashlane has been expanding its horizons as of late, having added features such as password breach alerts and monitoring, a VPN option for Wi-Fi protection, a Secure Notes feature that helps users encrypt personal data and attachments, and an option that connects users’ closest family members with their account information in case of emergency.
In addition to the funding announcement today, Dashlane unveiled it has added Seth Farbman, former Spotify and Gap CMO, to its board of directors.
Along with its B2C offering, Dashlane also offers solutions that help businesses seamlessly onboard staff with new accounts and has a partner program to allow brands to co-brand Dashlane’s identity manager as a service. Among the company’s partners are Visa, Intel, and yubico.
Since it was founded in 2009, Dashlane has amassed ten million users from 180 countries across the globe.