The freemium password manager Bitwarden announced on Tuesday that it has raised $100 million. The goal? Solidify its community of users and pursue its technological development.
Renowned for its honorable free offer and its security, Bitwarden is laying the foundations for its future by formalizing a nice fundraiser of 100 million dollars, conducted with the company PSG (no, nothing to do with the football club or handball). The latter, located in the United States, has just taken a minority stake through investment and its role is to help software and technological services companies to accelerate their development. With this financial windfall, Bitwarden will be able to develop its open source solution.
Bitwarden wants to preserve its business model
Bitwarden, based in Santa Barbara, California, now has additional resources to accelerate its development and growth, as well as that of its products. Its goal is to offer even stronger online security options to its customers, whether individuals or businesses.
The envelope will help Bitwarden to preserve its business model, based on a rather complete free version (unlimited identifiers and devices for a total of two users, double authentication) and an open source architecture. The paid versions, including those intended for companies, obviously offer additional services, such as priority assistance and encryption of attachments.
” Plus, we plan to continue innovating even faster by creating new ways to help people and businesses operate simply and securely online. “Says Bitwarden, implying the upcoming arrival of new features. The firm plans to invest more resources in passwordless technologies and authentication, in addition to a preserved open source model to which it is very attached. She also compares it to only way to guarantee 100% transparency and gain trust ” users.
Rapid development that needed to be supported by investment
An additional cash injection was becoming essential for Bitwarden, which has grown significantly in recent years, with a customer base of tens of thousands of businesses and millions of end users. Its international efforts have helped the password manager gain customers in Europe, the Middle East, Asia, South America, and even Australia.
For Bitwarden users, nothing should change except for product improvement and further enhanced security. The company therefore does not mention a potential increase in its paid offers, which is good news. Its prices are indeed relatively attractive today.
Moving away from pure password management, Bitwarden says it’s working on passwordless solutions, new ways to securely store and share sensitive information, and new options of connection between its customers and the development solutions, in order to pursue the expansion in the Cloud of the work of the developers.
Source : Bitwarden
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