Password Management App Dashlane Raises $30M, Spotify Former CMO Joins Board

Dashlane has a user base of 10 million actives

Password Management App Dashlane Raises $30M, Spotify Former CMO Joins Board

A password manager and identity management solution, Dashlane, raises $30 million in a new round of funding. There is also a new addition to its board, Seth Farbman, a former CMO of Gap and Spotify.

The debt financing was led by Hercules Capital with participation from previous investments from FirstMark Capital, Rho Ventures, Silicon Valley Bank, Bessemer Ventures Partners, and TransUnion.

The password management app has also been increasing its product line that includes new features such as Dark Web monitoring, which gives warnings to users if there is a case for their data to be exposed by hackers.

Emmanuel Schalit, CEO of Dashlane, said,

Other features that have been added include VPN and identify theft protection. The company is aiming to reach further heights and make Dashlane more than just a password manager. With these features, the password management company wants to stay ahead and differentiate itself from rivals like 1Password or LogMeIn's LastPass.

The company is expecting a new good vibe in its management with the joining of Farman, who was the chief marketing officer of Spotify for four years and took the Spotify to new heights with more than 200 million monthly active users. Dashlane, a password management app, achieved the milestone of 10 million users last June.

Seth Farbman said,

He  also added,

Dashlane has gained more than $100 million in venture funding and has 10 million plus active users, but it is still concerned about its competitors as one of its closest rivals, LastPass, garnered 16.8 million users in 2018. 1Password also raised millions of users and 40,000 business houses to which credit goes to its B2B approach.

Manish <span>Content Strategist</span>
Written By
Manish Content Strategist

With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!

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