小蓝视频色情网页版

Toronto-based closed a $620 million Series C that brings the cybersecurity firm鈥檚 valuation to $6.8 billion.

The new round was led by , with participation from others including , and . 鈥攚hich led the company鈥檚 Series A and B鈥攁lso took part in the round, as well as a handful of celebrity investors such as , Scarlett Johansson and .

It marks the largest round raised by a Canadian company.

The company鈥檚 platform helps customers securely manage passwords and credentials and is used by more than 100,000 businesses鈥攊ncluding , and . 1Password鈥檚 solution is what it calls 鈥渉uman-centric,鈥� protecting individuals so they can focus on getting things done and not security. by 1, 85 percent of all company data breaches involved a human element.

鈥淎t our core, we are making it easier for people to stay safe,鈥� said CEO .

Changing workforce, changing security

The 16-year-old company has been profitable since being founded, but has seen significant COVID tailwinds the last two years as companies continue to look for ways to protect employees working from home鈥攐r home and office鈥攆rom security breaches, said Shiner. The company has doubled its customer base and grown its team by more than 300 percent鈥攖o 570 employees鈥攊n that time.

In 2021, the company saw annual recurring revenue north of $150 million, he added.

With the new funding, 1Password has now raised $920 million in funding, and will use the new cash to accelerate product development, grow its team and make strategic acquisitions, Shiner said. While the password management space has several players such as , Shiner said most customer deals feature no competition.

, a partner at Accel, said the investment in 1Password is driven by a growing need for better authentication solutions, particularly those that prioritize end-user experience.

鈥淎s workforces become more distributed and SaaS/cloud services increase in popularity, the need for a solution like 1Password has also grown,鈥� he said. 鈥淲ith over 100,000 enterprise customers and millions of end users on the platform, it鈥檚 already a large company, and we鈥檙e excited about the company鈥檚 potential.鈥�

Cybersecurity, in general, with more than $20 billion flooding into the industry. The sector has already realized more than $1 billion invested in the first two-and-a-half weeks alone this year鈥攊ncluding the 1Password round鈥攁ccording to 小蓝视频色情网页版 data.

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