The startup that created password manager applicaton PasswordBox had two things to thank for - the size of its recently-concluded Series A financing round and a new milestone in the number of its users.
PasswordBox closed its Series A investment round with USD6 million in funding that was led by Omers Ventures. Investors who also participated in the round were angel investors like Head of Facebook eCommerce Lee Linden, SecureKey Technologies chairman Greg Wolfond and chief executive officer of m-payments company BOKU Mark Britto, among others.
PasswordBox co-founder and chief executive officer Dan Robichaud said its password manager is definitely different than similar products of other competitors. Aside from the usual auto logins and secure password generator, Robichaud said PasswordBox has the ability to also manage your legacy online.
"That's really unique to us. If you want to transfer your digital life to someone you like or someone you trust [after your death]... you actually need to manage the digital life assets on a day to day basis, to transfer accurate data," said Robichaud.
This means, as explained in the TechCrunch report, one could nominate a person who can manage your online data without having to do it manually.
On the other hand, PasswordBoax intended to shift its main product to be more bometric-focused. With the launch of Apple Inc's TouchID system, Robichaud said his company would want to capitalize on the shift in mobile security niche market.
"As long as you put your Touch ID on your phone, [PasswordBox] is going to log you in without you having to type username or password. We're actually thinking the biometric wave that is coming is a good thing for us. The big vision is to be the biometric link between the old password world and the new biometric world. At the end of the day it's going to take years for websites to integrate with biometrics, and Google will not integrate with Facebook and Apple will not so there is a need for a neutral party that authenticates. We think we have a chance there," Robichaud said.
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