Internet startup Dashlane announced that it has closed a $5 million Series A funding round led by Rho Ventures and FirstMark Capital with participation from Dashlane’s co-founder Bernard Liautaud. The company said the funds would help the service, which works like sort of a personal identity passkey, launch sooner.
Habib Kairouz, managing partner at Rho Ventures, and Rick Heitzmann, managing director of FirstMark Capital will join Bernard Liautaud and Dashlane CEO Emmanuel Schalit on Dashlanes’s board of directors.
Dashlane is building a Internet application for consumers to securely and efficiently shop, pay or log in without entering credit card details, names, addresses and passwords. Few details are available, but the company said Dashlane will also be useful for users on smartphones or other devices without a keyboard.
“Dashlane has a great team that brings tremendous commitment, tenacity and technical expertise to turn their innovative idea into a disruptive technology,” said Habib Kairouz, managing partner at Rho Ventures. “They’re going after a giant market to tackle a persistent problem that hasn’t been successfully cracked before.”
Liautaud formerly co-founded and served as CEO of Business Objects, which was acquired in 2007 by SAP in a deal valued at $6.8 billion.
Photo by flickr user Rob and Stephanie Levy, used under Creative Commons license