Digital identity app Dashlane secures $30m debt financing

Password and digital identity solution provider Dashlane secured $30m in a debt financing round.

The funds were supplied by Hercules Capital, and previous backers FirstMark Capital, Rho Ventures, Bessemer Venture Partners, TransUnion and Silicon Valley Bank. Dashline has now raised a total of $100m in equity funding.

In addition to the close of the round, Dashlane has named former Spotify CMO Seth Farbman will join the company’s board of directors.

New York-based Dashlane is a mobile app which automatically fills and stores passwords, personal data and payment details to help a consumer better manage, monitor and protect their digital identity. Its solution is available in 180 countries and is integrated with dark web monitoring, VPN and identity theft protection to ensure a 360 view of digital identity and boost its protections.

Dashlane CEO Emmanuel Schalit said, “When we look back 10 years from now, 2018 will be remembered as the year of GDPR, Facebook revelations, and the year that regulators, the press – and most importantly, public opinion – really started to look at the entire issue of digital privacy and identity differently.

“It’s also an exciting time for Dashlane as a business, and we’re proud to have the support of our investors and fantastic new talent like Seth Farbman on our board as we enter this new phase of our growth. Dashlane’s commitment to empowering individuals to reclaim their digital independence has never been stronger.”

There has been a drive in the adoption of digital identity solutions. Earlier in the year, blockchain-based KYC solution Blockpass joined the Open Identity Exchange to help accelerate the embracement of digital identity services based on open standards.

Copyright © 2019 FinTech Global

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