What is 1Password?
1Password is globally recognized as a leading password manager, distinguished by its blend of industry-leading security protocols and acclaimed design. The company offers secure and intuitive password management services to both individual consumers and businesses worldwide. Headquartered in Toronto, Ontario, 1Password is dedicated to safeguarding digital identities and simplifying online security for its extensive user base. The company's focus on private, secure, and user-friendly solutions has positioned it as a trusted name in cybersecurity.
How much funding has 1Password raised?
1Password has raised a total of $920M across 3 funding rounds:
Series A
$200M
Series B
$100M
Series C
$620M
Series A (2019): $200M with participation from Accel
Series B (2021): $100M led by Accel
Series C (2022): $620M supported by Tiger Global, Lightspeed Venture Partners, ICONIQ Growth, and Backbone Angels
Key Investors in 1Password
Lightspeed Venture Partners
Lightspeed Venture Partners (lsvp.com) is a global multistage venture capital firm that raises dedicated funds and invests in early and growthstage technology companies across sectors such as enterprise software, consumer, fintech, and infrastructure, partnering with founders from seed through IPO/M&A.
ICONIQ Growth
ICONIQ Growth partners with exceptional entrepreneurs and leaders who drive global impact and change. The company is inspired by visionaries defining the future of their industries by building company cultures that endure. The company's unique investment platform harnesses the power of ICONIQ Capital's vibrant ecosystem of founders, pioneers, and business leaders with the goal of delivering tangible value and amplifying the company's portfolio companies' success from early growth stage to IPO and beyond.
Backbone Angels
Backbone Angels is a collective of women in tech dedicated to funding and empowering overlooked founders, businesses, and ideas. Since its inception in March 2021, the collective has invested over $2.3 million in more than 42 companies led by women. The organization seeks forward-thinking founders who are solving problems in scalable ways, providing not just capital but also access to the collective's extensive expertise.
What's next for 1Password?
The substantial enterprise-level funding and recent strategic investment signal a pivotal growth phase for 1Password. This capital infusion is expected to accelerate product development, enhance security infrastructure, and expand market reach globally. With a clear focus on innovation and user experience, 1Password is poised to further solidify its leadership in the password management sector, potentially exploring new avenues for digital security solutions and strengthening its competitive advantage against emerging threats and market demands. The company's trajectory suggests a continued emphasis on scaling operations and deepening its commitment to user privacy and data protection.
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