Total amount raised
$211 Millions
Latest funding date
May, 2019
Location
Dashlane has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform specializes in secure password management and offers a range of features designed to protect users from credential-based threats.
Keep reading to explore the intricacies of Dashlane's fundraising journey and the investors backing this innovative platform.
What Is Dashlane?
Dashlane, founded on July 6, 2009, in New York, specializes in credential management, offering services like password management, dark web monitoring, and secure online transactions. The company was established by Alexis Fogel, Bernard Liautaud, Emmanuel Schalit, Guillaume Maron, and Jean Guillou.
With a focus on balancing comprehensive security and ease of use, Dashlane aims to simplify digital experiences for its users. The company operates with a strong sense of community and passion, maintaining teams in Paris, New York, and Lisbon.
Currently, Dashlane employs between 251 and 500 people, continuously working to enhance its platform and protect users from credential-based threats.
How Much Funding Has Dashlane Raised?
- Series A
- Amount Raised: $5.1M
- Date: September 2011
- Lead Investors: FirstMark, Rho Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial product offering.
- Series A
- Amount Raised: $3M
- Date: September 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product features and user base.
- Series A
- Amount Raised: Not publicly disclosed
- Date: October 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling their operations and product development.
- Series B
- Amount Raised: $21.8M
- Date: May 2014
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their technology and expand market reach.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: September 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series C
- Amount Raised: $22.5M
- Date: May 2016
- Lead Investors: TransUnion
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Debt Financing
- Amount Raised: $8.5M
- Date: September 2016
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Debt Financing
- Amount Raised: $10M
- Date: April 2018
- Lead Investors: Hercules Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund ongoing product development and market expansion.
- Debt Financing
- Amount Raised: $30M
- Date: April 2019
- Lead Investors: Hercules Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support scaling efforts and enhance product capabilities.
- Series D
- Amount Raised: $110M
- Date: May 2019
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in core product development and address digital identity issues.
Total Amount Raised: $211.9M. Current Valuation: Not publicly disclosed.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a prominent venture capital firm known for investing in early and growth-stage companies. Jim Goetz, a partner at Sequoia, joined Dashlane's board as part of their investment.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Apple, Google, LinkedIn, WhatsApp.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm with a broad portfolio of investments in various sectors. They have a history of backing successful technology companies.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Yelp.
- FirstMark Capital
- Details: FirstMark Capital is a venture capital firm focused on early-stage technology companies. They aim to partner with visionary entrepreneurs.
- Investment Focus Areas: Technology, particularly in early-stage companies.
- Notable Investments: Pinterest, Shopify, Riot Games.
- Hercules Capital
- Details: Hercules Capital is a leading specialty finance company providing venture debt to high-growth companies. They have supported numerous technology and life sciences firms.
- Investment Focus Areas: Technology, life sciences, sustainable and renewable technology.
- Notable Investments: Not publicly disclosed.
- TransUnion
- Details: TransUnion is a global information and insights company that makes trust possible in the modern economy. They provide solutions that help businesses and consumers make informed decisions.
- Investment Focus Areas: Financial services, technology, data analytics.
- Notable Investments: Not publicly disclosed.
What's Next for Dashlane?
Dashlane stands at the cusp of a significant opportunity in the digital identity protection market. With billions of people and millions of businesses grappling with digital identity issues, the potential for growth is immense. The rise in credential stuffing attacks and the increasing reliance on password managers underscore the demand for robust solutions. Dashlane's recent $110 million Series D funding, led by Sequoia Capital, positions the company to enhance its core products and expand its user base.
Future fundraising opportunities seem promising, given the substantial investor confidence demonstrated in the Series D round. As Dashlane continues to grow, additional funding rounds could support further product development and market expansion. However, the company faces challenges such as intense competition and the need to stay ahead of evolving cybersecurity threats. Ensuring user trust and maintaining a balance between security and convenience will be crucial as Dashlane navigates these hurdles.
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