Dashlane, the New York-based digital identity app, has raised $30 million in a round of debt financing from Hercules Capital and has named former Spotify and Gap Inc. Chief Marketing Officer Seth Farbman to its board of directors, according to a press release.
Farbman took Spotify to more than 200 million users and joins Dashlane at an important juncture for the company, which had more than 10 million customers as of June 2018. The firm has added a number of new features to its platform, including VPN, Dark Web monitoring and identity theft protection.
Apple and Google have also integrated Dashlane into the respective mobile operating systems for iOS and Android devices.
“I am excited to join the board of Dashlane, a company with the right vision for the Internet at the right time,” Farbman said in the announcement.
Farbman said he sees some of the same attributes in Dashlane that he saw in Spotify, including a best-in-class product, a diverse and capable team and favorable headwinds.
The debt financing brings Dashlane’s total funding to $100 million. Prior funding came from FirstMark Capital, Rho Ventures, Bessemer Venture Partners, TransUnion and Silicon Valley Bank.