Dashlane, a US-based digital identity management technology provider backed by credit information service TransUnion, has closed a $110m series D round led by venture capital firm Sequoia Capital.
VC firms Rho Ventures, FirstMark Capital and Bessemer Venture Partners (BVP) also participated in the round, which the company said brought its overall funding to more than $185m. It follows $30m in debt financing from venture debt firm Hercules Capital that closed in April 2019.
Founded in 2011, Dashlane provides an online identity management tool that securely holds a user’s login credentials, passwords and credit card details from across multiple websites.
The platform is intended to offers greater data security at a time when cyber attacks are becoming more common against consumers and businesses which are increasingly reliant on an array of digital services. The capital will help the company enhance its core product with additional features.
Jim Goetz, a partner at Sequoia Capital, has joined Dashlane’s board of directors in connection with the transaction. The company has selected Joy Howard, outgoing chief marketing officer of ride hailing platform Lyft, to lead its marketing operations.
TransUnion contributed to Dashlane’s $22.5m series C round in 2016 alongside Rho Ventures, FirstMark Capital and BVP. The latter had led Dashlane’s $22m series B in 2014 with contributions from existing investors Rho Ventures and FirstMark and company founder Bernard Liautaud.