TransUnion is betting big on Dashlane, a password management company that enables users to monitor their online identities across multiple sites and apps, by leading a Series C funding round for the startup.
Dashlane secured $22.5 million in new capital, while also picking up a strategic partner and investor in TransUnion, the companies announced on Wednesday (May 25). The partnership will allow the companies to build services for each other’s companies.
According to TransUnion, these integrated services will cover a wide range of areas, including monitoring, identity and fraud protection, credit information and breaches. TransUnion will also help to expand Dashlane through its various partner channels, both in the U.S. and globally.
In a press release, Emmanuel Schalit, CEO of Dashlane, said:
“Today marks an important milestone in our path forward as an identity management company. Our mission has always been to make identity and payments simple and secure everywhere. This new round of funding, combined with the strategic relationship with TransUnion, will strengthen our ability to achieve this vision by giving us the capital to accelerate our roadmap, as well as the ability to further integrate new powerful services for our users.”
The funding round also included participation from existing investors Rho Ventures, FirstMark Capital and Bessemer Venture Partners and brings Dashlane’s total funding to date to $52.5 million.
The password and online identity management startup is now used by more than 5 million consumers across 150 countries. The company confirmed it has also facilitated $5.5 billion in eCommerce transactions since it launched in 2009.