Toronto’s 1Password Raises $200 Million in Massive Series A Funding

Toronto-based 1Password has as of late introduced that it has raised $200 million in an enormous Series A investment spherical led by means of Accel, a San Francisco-based mission capital company that powers a world neighborhood of marketers. The financing additionally marks Accel’s biggest unmarried take a look at written in one spherical.

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What represents the primary spherical of exterior investment in 1Password 14-year historical past, contains individuals like Slack Fund, WndrCo, Atlassian President Jay Simons, and previous Google CISO Gerhard Eschelbeck, amongst others.

1Password’s endeavor industry has grown over 300% prior to now three years and now accommodates a majority of the corporate’s earnings. Its buyer portfolio contains large names like IBM, Slack, PagerDuty, Dropbox, GitLab, and Roche.

The transfer to B2B was once an excellent one, consistent with Accel Partner Arun Mathew. “They weren’t in search of out of doors capital,” he stated. “The funding ended up being the only biggest take a look at, and biggest preliminary funding, we’ve ever made.”

1Password, Mathew famous, began out as a software however developed right into a “core a part of private and more and more company, safety hygiene.”

As a part of the funding, Mathew might be becoming a member of 1Password’s board.

1Password is now making plans to make use of its new capital to “aggressively put money into its product and go-to-market methods” in order that it may well keep growing its endeavor buyer base.