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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