Password manager Dashlane capitalizes big on insecure users, gets $22M funding in Series B

dashlaneDashlane, a French startup who develops successful password and identity managing tools for multi-password users, has reached 2 million users, and, simultaneously, raised $22 million funding led by Bessemer Venture Partners. Existing investors Rho Ventures, FirstMark Capital, and Bernard Liautaud, the original founder of the company, have also joined the new round.

Dashlane’s total funding reached $30 million with the new round.

Based in Paris and New york, the company develops and provides multi-feature password managing tools that let multi-password users to secure and protect their online identity and accounts. There are hundreds of millions of users who have to manually manage different passwords for each of the web platforms they use. Dashlane offers a secure and practical solution to this problem, enabling the users to manage their accounts through a unified and easy-to-use panel.

The company also offers a digital wallet where the users can tie and manage all their payments. The company says they have enabled over $1 billion in e-commerce transactions so far.

Bernard Liautaud, the founder of Dashlane, said that the birth of Dashlane is based on the need for a universal consumer solution for identity and payments and new round of funding will allow the company to better provide this missing link on the internet.

The company says this is the largest funding round for a identity security company to date.

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