- Digital identity management solution company Dashlane has raised $110 million in Series D funding led by Sequoia Capital
- Sequoia Capital partner Jim Goetz is joining the company’s board of directors.
- Joy Howard has been named as Chief Marketing Officer of Dashlane
Digital identity management solution company Dashlane has made a couple of major announcements recently. The first announcement is that it raised $110 million in Series D funding led by Sequoia Capital with partner Jim Goetz joining the company’s board of directors. And Dashlane has named Joy Howard as Chief Marketing Officer.
Existing investors Rho Ventures, FirstMark Capital, and Bessemer Venture Partners also participated in the round. Including this round, Dashlane has now raised more than $185 million in total funding.
With this round of funding, Dashlane is going to enhance its core product, add new capabilities for better addressing the needs of consumers and businesses of all sizes, and building a category-defining brand.
“We are still only scratching the surface of this opportunity. Billions of people and millions of businesses around the world feel the pain of digital identity – from breaches to stolen identities and the nuisance of remembering passwords. Few are even aware that there is a better way, and we are going to change that,” said Emmanuel Schalit, Dashlane CEO. “With this new capital and the addition of Joy to our leadership team, we have the resources to increase our product leadership, grow the team, and build the brand that will define the future of digital identity protection.”
Since many people still use the same devices and easily hackable passwords in their personal and professional lives, password-related attacks have been the cause of more than two-thirds of all data breaches.
Dashlane essentially simplifies and secures your digital identity — which means all of your online information. The Dashlane app automatically fills and stores passwords, personal data, and payment details across platforms and devices. The app is used by more than 11 million people in 180 countries.
Howard is going to transition out of her current role as CMO at Lyft to join Dashlane in August. Howard has a proven track record for growing multi-billion-dollar global brands with previous leadership positions at Sonos, Patagonia, Nike, and Coca-Cola. And in her new role, she is going to oversee the global marketing function and all policy-related initiatives.
“For years the tech community has maintained that people don’t care enough about their digital security to invest in real protection,” said Joy Howard, who will become CMO of Dashlane. “We don’t believe this is true. Rather, people care deeply about protecting their digital identities but lacked the effective means. Dashlane is a powerful yet simple tool that empowers users to control their digital identities. I look forward to helping them build a world-class brand and a company that makes digital life worry-free for everyone.”
Goetz is joining Dashlane’s board not too long after former Spotify CMO Seth Farbman and Dashlane co-founder Bernard Liautaud also joined.
“While most people are not aware of the magnitude of these issues, an entire economy is booming and growing in sophistication around harvesting and weaponizing stolen credentials, with participation from nation-states and cybercriminals,” said Jim Goetz, Partner at Sequoia. “We believe this category has the potential to one day surpass anti-virus in size, and we are excited to partner with the emerging market leader as they create and grow the category.”
