US-based password management platform 1Password raised $200m in a series A round yesterday backed by Slack Fund, the strategic investment vehicle for work messaging service Slack, and led by Accel.
The round included WindrCo as well as Scott Farquhar and Mike Cannon-Brookes, co-founders and co-chief executives of enterprise software producer Atlassian, the corporate’s president, Jay Simons, and other angel investors.
Founded in 2005, 1Password operates a cloud-based platform and stand-alone applications for users to generate complex, unique passwords and autofill logins on websites, as well as securely store sensitive data such as credit card details and their social security number.
The company has also created an Enterprise Password Manager service that enables businesses to control which employees have access to certain login details, enforce two-factor authentication and monitor sign-in attempts. It can also be used to securely share documents.
The series A funding has been allocated to significant investments in the enterprise product, which is already in use by more than 50,000 clients, including Slack.
