PasswordBox has acquired Legacy Locker.
The Montreal-based password management solution used some of its recently raised $6 million in ventre capital to acquire the Silicon Valley-based digital afterlife service, which grants friends and family access to your online assets after you pass away.
Legacy Locker, which was founded by Jeremy Toeman in 2009, will cease to exist in a couple months, but all current users will be awarded a free lifetime subscription to PasswordBox as part of the deal. The value of the deal was not disclosed.
PasswordBox just last week raised a $6 million Series A funding round led by OMERS Ventures, a round that also included participation from strategic Silicon Valley angel investors, involving Mark Britto, CEO of BOKU, and Lee Linden, Head of Facebook e-commerce.
“Thirty percent of Americans believe it would be easier to achieve world peace than to remember all of their online passwords,” said Dan Robichaud, PasswordBox CEO. “PasswordBox offers a simple and highly secure password management solution. We’ve now reached over one million users, and continue to grow both as a company and team.”
According to PasswordBox, online consumers have an average of 25 online accounts. The majority of people reuse the same username and password across multiple websites. But having a different, strong password for each website increases security. PasswordBox generates strong passwords that provide users with military-level protection of their information.