In Its First Funding In 14 Years, Toronto's 1Password Raises $200M Series A Led By Accel

[InfoSec News <alerts () infosecnews org>]

https://news.crunchbase.com/news/in-its-first-funding-in-14-years-1password-raises-200m-series-a-led-by-accel/

By Mary Ann Azevedo
Crunchbase News
November 14, 2019

1Password, a Toronto-based password manager, announced today it has raised $200 
million in a massive Series A funding round that was led by Accel.

This round is notable for a number of reasons. Namely, it’s a gigantic Series A 
even by today’s standards. The financing also marks the previously bootstrapped 
1Password’s first external round of funding in its 14-year history. It also 
represents Accel’s largest single check written in one round. I should note 
that Slack Fund, WndrCo and Atlassian founders/co-CEOs Scott Farquhar and Mike 
Cannon-Brookes joined the round. Additionally, Atlassian President Jay Simons, 
former Google CISO Gerhard Eschelbeck and several other “notable angel 
investors” participated.

For a reporter who covers tech company fundings, this is an unusual story. But 
it’s also a very interesting one.


Background

1Password started in Toronto in 2005 and was born out of a recognized need.

Founding couples Dave and Sara Teare and Roustem and Natalia Karimov came up 
with the idea while they were growing a company that built websites. They 
realized the struggle of keeping up with passwords.

1Password started out focused on consumers only. And it did that well. The 
company, which claims to have been profitable since its first year, emphasized 
user experience, noted CEO Jeff Shiner.

[...]

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