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1Password, the favored password administration instrument, has closed a $620 million Collection C funding spherical that upped the corporate’s valuation to $6.8 billion.
The funding spherical was led by Iconiq Development with participation from companions that embrace Accel, Tiger World, Lightspeed Enterprise Companions, and Spine Angels. Information of the Collection C arrives amid better reliance on cloud functions and distant work amongst at this time’s organizations.
1Password was based in 2005 and has since grown to 570 workers, a quantity it plans to double this 12 months, CEO Jeff Shiner informed
CNBC. In 2016, it launched an enterprise model of its password administration software program that integrates with different enterprise platforms and is now utilized by greater than 100,000 organizations.
Its first spherical of funding — a $200 million Collection A — was introduced in Nov. 2019. Practically two years later, 1Password introduced it raised $100 million in a Collection B spherical that elevated its valuation to $2 billion.
Over the previous 12 months, it has launched its Occasions API so IT groups can correlate 1Password insights with different information sources, launched 1Password for Safari, and partnered with Fastmail and Ramp to deliver new capabilities into its instrument. This 12 months additionally introduced its debut on Linux, the premiere of 1Password 8, and 1Password 8 on Home windows. Quickly, it should deliver 1Password 8 to Mac.
Learn 1Password’s full weblog publish for extra particulars.
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