Dashlane raises $30m in Debt Financing

BFSI News

Dashlane-raises-30m-in-Debt-Financing Dashlane raises $30m in Debt FinancingDashlane, a New York-based password management platform and secure digital wallet provider, as per recent reports, has closed a $30 million debt financing deal. With this recent closure, the New York-based Dashlane has raised a total fund surpassing $100 million.

The recent funding round was participated by Hercules Capital, along with earlier investors FirstMark Capital, Rho Ventures, Bessemer Venture Partners, TransUnion, and Silicon Valley Bank. As per reports, the password management platform provider will be utilizing these funds to expand its platform’s capabilities beyond password management and into the much broader field of identity management.

The company has been expanding its wings lately, adding enhanced security features such as password breach alerts and monitoring, a VPN access option for enhanced Wi-Fi protection, a Secure Notes feature enabling users to encrypt personal data and attachments, and last but not the least – offering a choice to platform’s users to link their closest family members with their account information in emergency scenarios and other dire consequences.

Apart from the recent debt funding announcement, Dashlane also announced appointing Seth Farbman, former Spotify and Gap CMO, as the member of its board of directors.

The company, along with its B2C offering, also is into offering solutions that enable easy onboarding of staff with new accounts for businesses and a unique and innovative partner program that calls for brands to co-brand Dashlane’s identity manager as a service. Using this partner program Dashlane has earned itself a trusted list of partners such as Visa, Intel, and yubico.

Dashlane, founded in 2009, has a strong and dedicated ten million user base from around 180 countries all around the world.