TechCrunch May 19, 2014
Dashlane came to life in 2011 as a somewhat stealthy startup out of Paris that promised a smart approach to the sometimes-frustrating art of consumers managing multiple passwords. Nearly three years on, with some key product iterations under its belt, the company is announcing a couple of milestones: 2 million consumers using its products for some $1 billion in e-commerce transactions; and a Series B of $22 million — the biggest-ever funding round for an identity management startup, the company says.
The funding is led by new investor Bessemer Venture Partners, with participation also from existing investors Rho Ventures and FirstMark Capital, as well Bernard Liautaud, the original founder of the company, who is something of a legend in the tech world. He is currently a general partner at Balderton but in his past had founded Business Objects, the enterprise startup that sold to SAP in 2007 for nearly $7 billion. The round brings Dashlane’s total funding to date to $30 million.
Dashlane taps into a couple of key trends in the technology world. The first is the fact that an increasing amount of our lives and our consumer spending habits are played out online — from basic communications through to purchasing and everything in between. The second is a growing reliance on cloud-based services. The third is a growing concern about online security — something that gets increasingly threatened as more malicious hackers follow the money and steal passwords and other valuable data.
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