One of the top themes of 2020 was cybersecurity. The increase in online traffic, spurred by social distancing and stay at home orders, offered cybercriminals more hacking opportunities than in previous years.
This means that for fintechs like Dashlane, it’s time to shine. Dashlane was founded in 2009 and its password management technology has since gained a cult-like following.
The Dashlane app stores the user’s passwords and autofills the corresponding username and password on each of their accounts. In addition to account logins, the app can also help streamline the checkout experience by filling in forms with address and payment card information.
This week, the New York-based company made headlines with the announcement of its new CEO. Dashlane appointed JD Sherman to lead the company. Sherman, who is filling the shoes of former CEO Emmamuel Schalet, comes to the company with decades of experience from leadership roles at IBM, Akamai, and most recently HubSpot, where he served as President and Chief Operating Officer.
“The need for better security practices has become more important than ever for everyone, from individuals to small businesses and larger enterprises, especially with the increase of remote work across every industry,” said Sherman. “I’m thrilled to be joining the Dashlane team at a pivotal moment of growth, and look forward to working with this group of world-class security experts as we continue to build a simpler digital future for people and businesses through secure access.”
The change in leadership comes at a pivotal time for Dashlane as the company seeks to forge more enterprise partnerships. “This is about thinking about its next leg of our scaling strategy, more B2B monetization after being strong in B2C,” Sherman said in an interview with TechCrunch.
Sherman isn’t exaggerating about being strong in the B2C space. The company has scaled to 15 million users– up from 10 million users just two years ago. And since so much of consumers’ lives have moved online in the past year, this growth is expected to increase.
Dashlane has raised a total of $211 million after most recently pulling in $110 million in a Series D round led by Sequoia. While there is no word on an updated valuation for the company, Dashlane was last valued at $500+ million in 2019.
Dashlane’s Finovate debut was at FinovateFall 2012. The company also demoed at FinovateEurope 2013.
Photo by Juvnsky Anton Maksimov on Unsplash