In a recent round of funding, the password manager company Dashlane closed $30 million, bringing their total funding to over $100 million. The company also announced that Seth Farbman, former CMO of Gap Inc. and Spotify, will join their board of directors. Dashlane has over 10 million users around the world as of June 2018 and offers many supplementary cybersecurity features like a dark web scan, identity theft insurance, and a VPN.
Related: Dashlane Password Manager Review
In a recent press release from Dashlane, Farbman said,
“I am excited to join the board of Dashlane, a company with the right vision for the internet at the right time…Technology is meant to empower people and make their lives easier, and that is at the very core of what Dashlane does.”
How can Password Managers help with Security Breaches?
Password managers like Dashlane are particularly useful in the event of company-wide data breaches. Last year, Twitter asked all of its users to change their passwords “out of an abundance of caution.” They had discovered a bug which stored unencrypted passwords in an internal log.
Dashlane allows users to change old passwords automatically using their password generator, which creates long and complicated passwords. Users can also add two-factor authentication in the form of a numerical code sent to their smart phones. Other password managers offer multi-factor authentication in the form of biometrics like fingerprint or facial recognition to increase account security.
GDPR and Facebook Privacy Scandal Concerns Customers
With so many security breaches from large Internet companies, people are starting to worry more and more about their digital privacy says Emmanuel Schalit, Dashlane’s CEO. He cites Europe’s adoption of GDPR and the Facebook privacy scandal as catalysts for public concern about digital privacy.
“It’s also an exciting time for Dashlane as a business, and we’re proud to have the support of our investors and fantastic new talent like Seth Farbman on our board as we enter this new phase of our growth. Dashlane’s commitment to empowering individuals to reclaim their digital independence has never been stronger,” Schalit says.