Dashlane, a NYC- and Paris, France-based online identity management platform provider, closed a $22.5m Series C round of funding.
The round was led by TransUnion (NYSE: TRU), with participation from previous investors Rho Ventures, FirstMark Capital and Bessemer Venture Partners. As part of the round, John Danaher, president of TransUnion Consumer Interactive, will join Dashlane’s board. In addition, Carl Pascarella, former CEO of Visa Inc. (NYSE: V), joined its board as an independent director.
The company, which has raised $52.5m in total funding to date, intends to use the capital to continue to develop the solution and expand the ability to further integrate new services for its users.
Founded by Bernard Liautaud and co-founders Alexis Fogel, Guillaume Maron, and Jean Guillou and led by Emmanuel Schalit, CEO, Dashlan provides a password manager and secure digital wallet app to allow users to manage passwords, credit cards, IDs, and other important information via advanced encryption and local storage. To date, the solution has been used by over 5m people to manage and secure their digital identity.
The app, available on PC, Mac, Android, and iOS, is free to use on one device, while Dashlane Premium costs $39.99/year to sync between an unlimited number of devices.
Following the deal, Dashlane and TransUnion will work together to create innovative services for their respective customers, which will focus on credit monitoring, identity and fraud protection, credit information and breaches. In addition, TransUnion will also support Dashlane in expanding its distribution through its partner channels in the U.S. and globally.