1Password Raises $100M; Valued at $2 Billion


1Password, a Toronto, Canada-based security and privacy company, raised $100M in funding which now values the company at $2 billion.

The round was led by Accel, with participation from new investors including Ashton Kutcher’s Sound Ventures, Kim Jackson’s Skip Capital and a number of prominent enterprise and consumer technology executives including

  • Tobias Lutke, CEO of Shopify and Harley Finkelstein, President of Shopify; 
  • Stewart Butterfield, Co-founder and CEO of Slack;
  • Anthony Casalena, Founder and CEO of Squarespace; 
  • Mike Cannon-Brookes and Scott Farquhar, Co-CEOs of Atlassian; 
  • Kevin Hartz, Co-founder and Chairman of Eventbrite;
  • Gerhard Eschelbeck, former CISO at Google; and 
  • Robert Vis, Founder and CEO of MessageBird.

The company intends to use the funds to to continue to accelerate business growth and invest into new areas, including secrets management.

Led by Jeff Shiner, CEO, 1Password is a leader in enterprise password management providing private, secure and user-friendly password and secrets management to businesses and consumers globally. Its Enterprise Password Manager is used by more than 90,000 business customers, including IBM, Slack, Shopify, Under Armour, WealthSimple, PGA, Intercom and Gitlab. In the past few months, the company has expanded its business offerings, launching Secrets Automation, 1Password Events, a full-featured Linux Desktop Application and integrations with Slack and Rippling.

Since last round in 2019, the company has scaled to more than 90,000 business customers, crossed $120M in ARR and accelerated revenue growth. They added Raj Sarkar (Chief Marketing Officer), Julian Teixeira (Chief Revenue Officer), Jeannie De Guzman (Chief Financial Officer), and Akshay Bhargava (Chief Product Officer).