Name: 1Password
Brand: 1Password
SKU: 63c8264faf70319ec88381b5
Rating: 4.7 (25197 reviews)

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1Password

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Password Management Software

Overview of 1Password Software Company

1Password is a comprehensive password management solution designed to securely store and manage passwords and sensitive information for individuals, families, and businesses. It allows users to generate, store, and autofill passwords for online accounts across all devices, addressing the common security issue of weak and reused passwords.

Founding and Growth

1Password was founded in 2005 by Dave Teare and Roustem Karimov. The company started as a small project to solve their own password management issues and quickly gained traction. By 2012, the team had grown to 20 employees, prompting the hiring of Jeff Shiner as CEO to help scale the business. The company remained profitable and self-funded until 2019, when it raised its first external funding.

Funding and Valuation

1Password has raised a total of $920.14 million over three funding rounds:

Series A: $200 million in 2019, led by Accel.
Series B: $100 million in 2021, valuing the company at $2 billion.
Series C: $620 million in January 2022, led by Iconiq Growth, increasing the company's valuation to $6.8 billion.

Product Offerings and Features

1Password offers a range of features designed to securely manage passwords and sensitive information:

Password Management: Store and autofill passwords, credit cards, and other sensitive information.
Cross-Platform Support: Available on iOS, Android, Windows, macOS, Linux, and various web browsers.
Business Solutions: Includes features like Single Sign-On (SSO), integration with identity providers, and detailed audit trails.
Security Features: End-to-end encryption, two-factor authentication, and real-time device trust detection.

Acquisitions and Product Expansion

1Password has made several strategic acquisitions to enhance its product offerings:

SecretHub: Acquired in 2021 to bolster its cybersecurity capabilities.
Passage: Acquired in November 2022 to expand into passkey management.
Kolide: Acquired in February 2024 to integrate device trust features into its Extended Access Management (XAM) solution.

1Password AI and New Features

1Password continuously updates its features to meet evolving security needs:

Travel Mode: Allows users to remove sensitive data from their devices when traveling.
Extended Access Management (XAM): Helps businesses secure connections from unmanaged devices and applications.
Passkey Support: Following the acquisition of Passage, 1Password has been pushing for the adoption of passkeys as a more secure alternative to traditional passwords.

Company Culture and Values

1Password prides itself on a culture that emphasizes user experience, privacy, and security. The company fosters an environment that encourages innovation and teamwork, with a focus on making the online world safer for everyone. Founders and leaders are actively involved in listening to and supporting their customers and teams.

User Base and Community

1Password serves a diverse user base, including millions of individual users and over 150,000 business customers. Notable clients include IBM, Slack, PagerDuty, Dropbox, and GitLab. The company has seen significant growth, particularly during the COVID-19 pandemic, driven by the increased need for secure remote work solutions.