1Password has raised a total of $920 million across multiple funding rounds, including a $620 million Series C on December 17, 2021, which contributed to its $6.8 billion valuation reported on January 19, 2022, earning it unicorn status. Headquartered in Ontario, California, 1Password offers a cloud-based password and access management platform featuring password vaults, access management, two-factor authentication, and passkeys, supporting Mac, Windows, Android, iOS, and web platforms. As of July 2024, 1Password employs 501–1,000 people, serving customers such as Today, BBC, CNN, and Mashable.
Keep reading to explore 1Password’s funding journey, key investors, and what’s next for this cybersecurity leader.
What Is 1Password and What Does It Do?
Founded in 2006, 1Password is a cloud-based security platform that stores and manages passwords, credentials, and sensitive documents for individuals and organizations. It provides role-based visibility controls, delegated management, comprehensive usage reporting, multi-platform clients, and enterprise-grade authentication features to secure access across devices and teams.
How Much Funding Has 1Password Raised?
- Series C
- Amount Raised: $620M
- Date: December 17, 2021
- Lead Investors: (multiple growth investors)
- Motivation: To scale enterprise offerings, accelerate product development, and expand global go-to-market.
Total Funding Raised: $920M
Latest Funding Date: December 17, 2021
Current Valuation: $6.8B
Key Investors
- Iconiq Capital
- Details: Growth investor focusing on high-growth technology companies.
- Investment Focus Areas: Enterprise SaaS, security, and productivity.
- Sound Ventures
- Details: Venture firm backing consumer and enterprise technology.
- Investment Focus Areas: Cybersecurity and platform software.
Where Is 1Password’s Headquarters?
1Password is headquartered in Ontario, California, United States, providing proximity to major enterprise customers and security talent pools.
What’s Next for 1Password?
With a $6.8 billion valuation and $920 million raised, 1Password plans to deepen enterprise integrations, expand authentication and passkey support, and grow its global enterprise footprint while enhancing admin and compliance capabilities.
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