Dashlane has successfully raised $211 million over eight funding rounds, with significant backing from top investors. The platform offers a comprehensive password management service designed for home, mobile, and business use.
Keep reading to explore the intricacies of Dashlane's fundraising journey and the investors supporting this innovative platform.
What Is Dashlane?
Dashlane, founded by Alexis Fogel, Guillaume Maron, and Emmanuel Schalit, is a company dedicated to simplifying security for millions of users and organizations. Established in 2011, Dashlane operates from offices in Paris, New York, and Lisbon.
The company offers a comprehensive password management solution that helps businesses and individuals protect their data while ensuring easy access to accounts. With a workforce of 201-500 employees, Dashlane continues to innovate in the field of digital security.
Dashlane's platform is trusted by over 15 million users and 20,000 businesses across 180 countries, making it a global leader in password management and digital security.
How Much Funding Has Dashlane Raised?
- Series A
- Amount Raised: $5,000,000
- Date: September 2011
- Lead Investors: Rho Ventures, FirstMark Capital
- Motivation Behind the Round: Hiring, product development, mobile development, and establishing a New York office.
- Series A
- Amount Raised: $3,000,000
- Date: September 2012
- Lead Investors: FirstMark, Rho Ventures
- Motivation Behind the Round: Initial funding to launch and develop the product.
- Series B
- Amount Raised: $22,000,000
- Date: May 2014
- Lead Investors: Bessemer Venture Partners
- Motivation Behind the Round: To hire more people, expand into more products in the identity and management space, and potentially move into mobile services and enterprise solutions.
- Series C
- Amount Raised: $22,500,000
- Date: May 2016
- Lead Investors: TransUnion
- Motivation Behind the Round: Develop services with TransUnion for each other’s customers, build more sophisticated password-focused products for consumers, expand B2B e-commerce business, and geographic expansion.
- Unknown Round
- Amount Raised: $8,500,000
- Date: September 2016
- Motivation Behind the Round: Scaling operations and expanding market reach.
- Unknown Round
- Amount Raised: $10,000,000
- Date: April 2018
- Motivation Behind the Round: Product development and enhancing technological capabilities.
- Unknown Round
- Amount Raised: $30,000,000
- Date: April 2019
- Motivation Behind the Round: Expanding market reach and product development.
- Series D
- Amount Raised: $110,000,000
- Date: May 2019
- Lead Investors: Sequoia Capital
- Motivation Behind the Round: To invest in its core product, address the needs of both consumer and business customers, increase product leadership, grow the team, and build a brand that will define the future of digital identity protection.
Total Amount Raised: $211,000,000
Current Valuation: (~estimated) $500,000,000
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a prominent venture capital firm known for investing in early and growth-stage companies across various sectors. They have a significant presence in the tech industry and have backed some of the most successful startups globally.
- Investment Focus Areas: Technology, healthcare, consumer, financial sectors.
- Notable Investments: Apple, Google, Oracle, PayPal, LinkedIn, WhatsApp, Airbnb.
- TransUnion
- Details: TransUnion is a credit monitoring and ID protection company that provides services to help businesses and consumers manage their credit and protect against identity theft. They are a leader in the information and risk management industry.
- Investment Focus Areas: Credit monitoring, ID protection, e-commerce fraud protection.
- Notable Investments: Acquired TrustEv for $44 million to expand its e-commerce fraud protection business.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a leading venture capital firm that invests in early-stage companies across various sectors. They have a long history of backing successful startups and helping them scale.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Pinterest, Twilio.
- Rho Ventures
- Details: Rho Ventures is a venture capital firm that invests in high-growth technology and healthcare companies. They have a diverse portfolio and a strong track record of successful investments.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: IntraLinks, Everyday Health, Bluefly.
- FirstMark Capital
- Details: FirstMark Capital is a venture capital firm that focuses on early-stage technology companies. They are known for their hands-on approach and strong support for their portfolio companies.
- Investment Focus Areas: Technology, consumer, enterprise sectors.
- Notable Investments: Pinterest, Shopify, Riot Games.
What's Next for Dashlane?
Dashlane is poised to capitalize on the growing demand for digital identity protection, driven by the increasing prevalence of credential stuffing attacks and the need for secure password management solutions. With a vast market of billions of users and millions of businesses facing digital identity issues, the company has significant opportunities to expand its product offerings and market reach.
Future fundraising efforts could be on the horizon, especially given the substantial Series D funding and the involvement of major investors like Sequoia Capital. This financial backing positions Dashlane to further scale its business and enhance its product capabilities, potentially leading to additional funding rounds or strategic acquisitions.
However, Dashlane will need to navigate challenges such as intense competition in the cybersecurity space and the rapidly evolving threat landscape. Maintaining user trust and high security standards will be crucial as the company continues to innovate and grow.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Dashlane and gather other critical business insights.
Sign up for free on Clay and start leveraging these powerful tools today.
