Starting the week’s fintech news with a bang is password management innovator, Dashlane. The company, which was recently highlighted by the Wall Street Journal’s Personal Technology column as “the best way to manage online passwords,” announced that it had raised $22 million in funding.
The major infusion of capital represents the company’s biggest single investment to date, and takes the company’s total funding to $30 million.
For the most part, the new investment comes courtesy of a new investor, Bessemer Venture Partners, who led the Series B round along with current investors, FirstMark Capital, Rho Ventures, and Dashlane co-founder Bernard Liautaud. Dashlane reportedly will use the capital to bring on more talent and to explore other product possibilities related to identity management and payments, as well as to assist in expansion into both Latin America and Asia.
Available on both PC and Mac, as well as on iOS and Android, Dashlane’s technology is renowned for its ability to help consumers store and manage passwords. Additionally, Dashlane also enables secure storage of credit card and ID information, provides automatic password generation, tools to test password strength, smart autofill, and alerts to let users know of possible security breaches to their online accounts.
Said Emmanuel Schalit, Dashlane CEO:
“Hundreds of millions of web users still manually register, login, and checkout on desktops and mobile devices, and leave themselves vulnerable to online security threats in the process. Dashlane elegantly solves this problem for consumers.”
As noted in Mashable’s report
of the Dashlane funding, the company saw a surge of interest in its soutions shortly after the panic over the Heartbleed bug broke out earlier this year. Emmanuel said that although there was a spike in interest (and one that has “died down”), the company continues its rapid growth.
And as a testament to this growth, Dashlane also has announced that it has surpassed 2 million users of its platform, enabling more than $1 billion in transactions.
Founded in 2009 and based in New York City, Dashlane demoed the instant login and checkout features of its technology at FinovateFall 2012. See a video of the company’s presentation here