1Password refinanced $620 million, and celebrities from the entertainment industry and business community participated

Produced | Open Source China

Wen | boiling water

Password management provider 1Password announced that it has completed a $620 million Series C round of funding, raising the company's valuation to $6.8 billion. The round was led by ICONIQ Growth and includes Tiger Global, Lightspeed Venture Partners, Backbone Angels and Salesforce Ventures.

In addition, a number of celebrities have participated in this round of investments: Ryan Reynolds, Scarlett Johansson, Robert Downey Jr., Matthew McConaughey, Chris Evans, Rita Wilson, Ashton Kutcher, Trevor Noah, Justin Timberlake and Farrell Williams; business community includes LinkedIn Executive Chairman Jeff Weiner, Disney CEO and Chairman Robert Iger, and others.

The announcement noted that this is the company's largest round of funding to date, reinforcing 1Password's leadership in security and privacy. Accel, which led the company's Series A and Series B rounds, also participated in the Series C funding along with another previous investor, Slack Fund. 1Password said it will use this additional funding to develop and expand human-centered security solutions for all; with a focus on helping people easily protect their most sensitive data and information, while achieving seamless integration between their work and personal lives.

Over the past 24 months, some of the dynamics of 1Password include:

• Accelerated expansion – especially in its B2B business, with a year-over-year increase of more than 70%.
• Expanded the commercial customer base to more than 100,000 companies, adding high-profile customers including Datadog, Intercom, PGA, Snowflake and Wealthsimple.
• Team building: including CFO, CRO, CTO, CMO, chief product officer.
• The team grew by more than 300% to 570 employees.
• Launched new products including 1Password 8 for Windows, 1Password Events, Psst! Password sharing and Secrets Automation.

Jeff Shiner, CEO of 1Password, said, "Our mission has always been to ease the tension between security and convenience, and the chances of 1Password achieving this have never been greater. We create products and solutions that improve and easily integrate into the company's existing security infrastructure, fostering better habits among employees while strengthening the company's security posture from within. In this way, we can address the biggest security threats facing the modern workforce and deliver on our promise to provide a safer online life for homes and businesses around the world. ”