1Password
Headquarters
Toronto, CanadaFounded
2005CEO / Founder
Jeff ShinerEmployees
501-1000Funding
Series C — $920MProducts
0 products listedWebsite
1password.com/
Profile updated
About 1Password
1Password was founded in 2005 by Dave Teare, Roustem Karimov, and Sara Teare in Toronto, Canada, where the company remains headquartered. It began as a password manager for consumers and Mac users before expanding into a broader security platform for businesses, covering password management, secrets management, and device trust.
1Password's core products include its password manager for individuals and families, 1Password Business, and Extended Access Management, a category the company introduced to address access control for devices, applications, and identities beyond traditional single sign-on. The company also offers 1Password Developer Tools, including a command-line interface and secrets automation for engineering teams. Customers span individual consumers to enterprises across technology, finance, and other regulated industries.
1Password raised a $200 million Series C round in 2021 led by Accel and Growth Equity at Goldman Sachs, alongside investors including Backbone Angels, Slack Fund, and Tiger Global, at a valuation reported around $6.8 billion. Prior to that round, the company had operated largely bootstrapped for over a decade. It has made acquisitions including Passage (passwordless authentication) in 2023 and Kolide (device trust) in 2024, and employs several hundred people globally with a distributed workforce model.
Specialties
Financials
Dated, source-cited figures. Estimates are marked.
No products listed yet for this company.
Competitive Landscape
Who 1Password competes with, and how they differ.
Open-source password manager with a free tier, self-hosting option and lower per-seat pricing; strong with developers and budget-conscious teams but lacks the device-trust and extended access management layer 1Password added via Kolide.
Mass-market password manager spun out of GoTo with a large freemium installed base; the 2022 breach disclosures pushed security-sensitive customers toward rivals, and it remains focused on credential vaulting rather than device trust.
Workforce identity leader selling SSO, MFA and lifecycle management to IT; overlaps with 1Password Extended Access Management on access policy and device context, though Okta owns the federation layer while 1Password comes from end-user credential vaults.
HashiCorp Vault competes with 1Password Secrets Automation for machine credentials and infrastructure secrets, targeting platform teams with policy-driven secrets management rather than end-user password vaults.
Company Timeline
Key milestones in 1Password's history, with sources.
- Milestone
Surpassed $400M ARR with 180,000 business customers
Company reported passing $400M in annual recurring revenue while free-cash-flow positive, with over 30% of the Fortune 100 as customers, under CEO David Faugno.
1password.com - Acquisition
Acquired SaaS access-management platform Trelica
Trelica added shadow-IT discovery, SaaS spend optimization and automated access workflows with over 300 integrations, extending 1Password Extended Access Management.
1password.com - Launch
Launched 1Password Extended Access Management
Platform aimed at the gap between identity providers and device management, combining device trust, contextual access policies and enterprise password management for unmanaged apps and devices.
siliconangle.com - Acquisition
Acquired device-security company Kolide
Kolide brought device health and contextual access management for remote and hybrid workforces, with customers including Databricks, Robinhood and Discord.
1password.com - Milestone
Surpassed $250M in annual recurring revenue
Company announced ARR above $250M, with business revenue growing 50% year-over-year and making up two-thirds of total revenue.
businesswire.com - Acquisition
Acquired passwordless startup Passage
Passage, founded by Cole Hecht and Anna Pobletts, specialized in passkey authentication; the deal became the basis for 1Password's passkey and customer-authentication products.
helpnetsecurity.com - Funding
Series C — $620M led by ICONIQ Growth at $6.8B valuation
Largest funding round ever raised by a Canadian company, with Tiger Global, Lightspeed and Accel participating; total raised reached $920M.
techcrunch.com - Funding
Series B — $100M led by Accel at $2B valuation
Round included Shopify, Slack and Squarespace executives and Sound Ventures; roughly half the money bought out existing shareholders while the company remained profitable.
theglobeandmail.com - Acquisition
Acquired SecretHub, launched Secrets Automation
Bought Dutch secrets-management startup SecretHub in an acqui-hire and launched 1Password Secrets Automation for infrastructure secrets the same day.
fortune.com - Funding
Series A — $200M led by Accel
First outside funding in the company's 14-year history and the largest single investment Accel had made to date; 1Password had been profitable since day one.
techcrunch.com - Founded
Founded in Toronto as AgileBits
Dave Teare and Roustem Karimov founded the company behind 1Password in 2005, growing it bootstrapped and profitable for 14 years without outside capital.
techcrunch.com
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