The password manager 1Password has collected further venture capital: A new round of financing brings the Canadian company 620 million US dollars, the head of the developer studio announced. Password management is now valued at $6.8 billion. 1Password now employs almost 600 people and wants to use the new money to further accelerate further development and implement new functions. The aim is to make complex password management as simple as possible – 1Password has long been aimed primarily at the corporate market.
1Password – the first 14 years without venture capital
New, more up-to-date numbers on subscribers and users were not mentioned in the notification. The company behind 1Password has been around for around 17 years, and venture capital was raised for the first time at the end of 2019. The first round involved an amount of $200 million provided by venture capital firm Accel, which also participated in the new round of funding.
1Password was originally a password manager intended for individual users that only ran on Apple’s desktop operating system macOS. The tool has long since been available across platforms – in addition to iOS, Windows and Android, it has also been available on Linux since last year. The focus is on subscriptions that are designed for use in company teams, but also for families.
Anger about subscriptions and app changes
The change in the business model and the focus on the enterprise market repeatedly caused irritation and criticism among long-term users, so the option to create a local vault temporarily disappeared from the iPhone app. The new 1Password 8 is no longer a native Mac app, but relies in part on the cross-platform framework Electron – another step that has apparently led some users to say goodbye to password management.
- You can read practical tips on Apple’s integrated password management in Mac & i 1/2022, the issue will be published on February 3, 2022.
(lbe)