Dashlane, a New York-based password manager and identity management service, announced it raised $30 million in funding. The funding was in the form of debt financing from Hercules Capital, according to TechCrunch. And this investment follows a prior round from FirstMark Capital, Rho Ventures, Bessemer Venture Partners, TransUnion, and Silicon Valley Bank. Dashlane is also expanding its board by hiring former Spotify and GAP CMO Seth Farbman.
“I am excited to join the board of Dashlane, a company with the right vision for the internet at the right time,” said Farbman in a statement via TechCrunch. “I see many of the same attributes in Dashlane, as I did in Spotify, when I first joined—a best-in-class product that its customers love, a diverse and capable team focused on growth and innovation and powerful macro trends that put the wind at the company’s back. Technology is meant to empower people and make their lives easier, and that is at the very core of what Dashlane does,” he said.
Password management service Dashlane now has over 10 million users and is available in 11 languages and used in 180 countries worldwide. And Dashlane is expanding to new features such as Dark Web monitoring, which will alert users if their information is being shared by hackers. Plus Dashlane now offers VPN and identity theft protection.
Dashlane is currently seeing a 90% revenue growth year-over-year. And the company has raised over $100 million since it was founded. Currently, Dashlane has more than 10 million users.
“When we look back 10 years from now, 2018 will be remembered as the year of GDPR, Facebook revelations, and the year that regulators, the press — and most importantly, public opinion — really started to look at the entire issue of digital privacy and identity differently,” added Dashlane CEO Emmanuel Schalit.