Canada-born on-line safety agency 1Password has closed a $620 million (USD) Sequence C spherical, with funding from quite a lot of superstars from the music and leisure business.
The spherical, which raises the corporate’s valuation to $6.8 billion, included backing from Trevor Noah, Justin Timberlake and Pharrell Williams, plus Hollywood stars like Ryan Reynolds, Scarlett Johansson, Robert Downey Jr., Matthew McConaughey and Chris Evans.
Pharrell Williams can also be an investor in corporations comparable to Mixhalo and Squire Applied sciences. Justin Timberlake has beforehand invested within the likes of leisure model Superplastic, health tech agency Hydrow and a number of others.
1Password says that the spherical is the biggest raised by a Canadian firm.
1Password’s Sequence C was led by ICONIQ Progress, with participation rom Tiger World, Lightspeed Enterprise Companions, Spine Angels, and Salesforce Ventures.
Accel, who led the corporate’s Sequence A and B, can also be collaborating within the spherical alongside Slack Fund, one other earlier investor.
1Password says that it’ll use this extra capital “to develop and scale human-centric safety options”.
Different notable traders from the enterprise world embody Jeff Weiner, Govt Chairman at LinkedIn; Robert Iger, Former CEO & Chairman at The Walt Disney Firm; Mary Barra, CEO at Common Motors; George Kurtz, Co-founder and CEO of CrowdStrike; Frank Slootman, CEO at Snowflake Computing; Lucy Suros, CEO at Articulate and Therese Tucker, Founder & Govt Chair at BlackLine
1Password ‘s password and delicate knowledge administration instruments are utilized by over 70,000 corporations, together with, what it says are, 25% of Fortune 100 corporations comparable to IBM, in addition to know-how corporations like Slack and Dropbox.
Info saved in 1Password is end-to-end encrypted utilizing 256-bit AES encryption and the agency claims to be the one password supervisor to mix a Grasp Password with a singular, domestically generated, 128-bit Secret Key to authenticate.
“Our mission has at all times been to ease the strain between safety and comfort, and the chance to ship on this has by no means been greater for 1Password.”
Jeff Shiner, 1Password
Jeff Shiner, CEO of 1Password, stated: “Our mission has at all times been to ease the strain between safety and comfort, and the chance to ship on this has by no means been greater for 1Password.
“We create merchandise and options that enhance upon and simply layer into an organization’s present safety infrastructure, nurturing higher habits for workers whereas strengthening an organization’s safety posture from inside.
“That manner, we will sort out the most important safety threats going through the fashionable workforce and ship on the promise of offering a safer life on-line for households and companies around the globe.”
Will Griffith, a founding companion at ICONIQ Progress, who will be a part of 1Password’s board as a part of this funding, stated: “In conversations with a couple of hundred CISOs, CIOs, CTOs, builders, and IT leaders, we had been impressed by their overwhelmingly fierce ardour for 1Password’s capability to steadiness strict safety requirements with a profound understanding of how people behave.
“By making protected on-line conduct second nature, 1Password isn’t solely defending people but in addition the enterprises the place they work.”
John Curtius, a companion at Tiger World, added: “As a pioneering high-growth firm that’s seizing a significant market, 1Password is a perfect match for Tiger World.
“Blurred strains between work and residential, the explosion of cloud apps and surging threats have made defending our digital lives extra essential than ever.
“1Password stands out with its observe report of scaling world-class options constructed across the greatest threat and alternative: people.”
Music Enterprise Worldwide