With its new additions, Dashlane is ready to define the future of digital identity protection.
Gone are the days when just by using a combination of numbers and special characters, your password becomes secure. And for God’s sake, stop using ‘password’ as your password. Nowadays, with the rise in data breaches, the popularity of password managers, like Dashlane, has increased rapidly.
The Dashlane app's latest funding of $110 million rightly proves the popularity of the password managers app. The series D round funding of the password manager maker was led by Sequoia Capital. Sequoia Capital partner, Jim Goetz, joins the Dashlane’s board of directors.
Dashlane’s latest round of funding has attracted multiple investors, including the existing investors - Rho Ventures, Bessemer Venture Partners, and FirstMark Capital. The company’s valuation after the recent deal is yet to be disclosed.
Dashlane’s CEO Emmanuel Schalit stated,
“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.”
He further added,
“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.”
The latest injection of funds will be used for investing in its core product and will focus on getting a better understanding of consumer and enterprise customers. In April, the company also raised $30 million in debt financing. So far, Dashlane has raised more than $185 million in total equity funding.
In addition to the funding news, it was announced that Lyft’s current Chief Marketing Office, Joy Howard, will join the Dashlane team. She is hired as the company’s new CMO and her tenure will start in August later this year.
Joy Howard said in a written statement,
“For years, the tech community has maintained that people don’t care enough about their digital security to invest in real protection. We don’t believe this is true. Rather, people care deeply about protecting their digital identities, but lacked the effective means.”
Hackers are advancing their game and after the increase in credential stuffing attacks, such as what Spotify suffered a week ago, it has become very necessary to have a password manager app. These apps can store multiple passwords in one place with a master password or biometric.
And in case this news has made you concerned about your important account’s passwords and searching for password manager apps, click the link and take a look at the list of top password management apps.
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