1Password

What does 1Password own?
1Password owns and operates its flagship password management and identity security platform. The company has acquired smaller technology firms including SecretHub and Passage, integrating their technologies directly into the 1Password product ecosystem rather than operating them as separate brands.

Is 1Password publicly traded?
No. 1Password is a privately held company. CEO David Faugno has publicly stated the company is considering an initial public offering in late 2026 or 2027, citing the Shopify dual-listing model on Canadian and U.S. exchanges as a potential path.

Who founded 1Password?
1Password was founded in 2005 by Dave Teare, Roustem Karimov, Sara Teare, and Natalia Karimov. The four founders created the software as a side project to manage their own passwords across websites. The company operated under the legal name AgileBits Inc. and was bootstrapped for its first 14 years.

Where is 1Password headquartered?
1Password is headquartered in Toronto, Ontario, Canada. The company maintains a distributed workforce with employees in multiple countries and a strong remote work culture.

How many brands does 1Password own?
1Password operates as a single-brand company. All products and services are offered under the 1Password name, including its consumer, business, and developer tool offerings.

Who owns 1Password?
1Password is owned by its founders, employees, and venture capital investors. Major institutional investors include Accel, which led the Series A round, and Iconiq Growth, which led the Series C. The cap table also includes celebrity investors such as Ryan Reynolds and Scarlett Johansson. Exact ownership percentages are not publicly disclosed.

What is 1Password's revenue scale?
As of November 2025, 1Password reported surpassing $400 million in annual recurring revenue. More than 75% of that revenue comes from business customers. The company is free cash flow positive and growing at approximately 70% year-over-year in customers spending more than $100,000 in ARR.

Has 1Password made any major acquisitions recently?
1Password acquired SecretHub in 2021 for its secrets management technology and Passage in 2022 for passkey authentication. Both acquisitions were integrated into the 1Password platform. No acquisitions have been announced since 2022.

1Password was founded in 2005 in Toronto by Dave Teare and Roustem Karimov, along with their respective partners Sara Teare and Natalia Karimov. The four founders created the software as a side project to solve their own problem of managing passwords across multiple websites during the early days of the modern web. The company operated under the legal name AgileBits Inc.

For its first 14 years, 1Password was entirely bootstrapped. The founders grew the business organically through product development and word-of-mouth referrals, building a loyal user base particularly within the Apple ecosystem. The software was originally sold as a standalone application with a one-time licensing fee, which sustained the company through its early years.

A major strategic pivot came when 1Password transitioned from a one-time purchase model to a subscription-based cloud service. This shift enabled continuous updates, cross-platform synchronization, and entry into the enterprise market. The subscription model fundamentally changed the company's revenue trajectory.

The first outside capital arrived in November 2019, when 1Password announced a $200 million Series A round led by Accel. This was the first external funding in the company's 14-year history. The investment allowed 1Password to accelerate its enterprise sales efforts and expand its product roadmap.

In 2021, the company acquired SecretHub, a Dutch cybersecurity firm specializing in secrets management for developers. That same year, 1Password raised an additional $100 million at a $2 billion valuation. The SecretHub acquisition laid the groundwork for 1Password's developer tools and secrets automation product line.

January 2022 brought the largest funding event in the company's history. 1Password raised $620 million in a Series C round led by Iconiq Growth, pushing the valuation to $6.8 billion. The round attracted celebrity investors including Ryan Reynolds, Scarlett Johansson, and Matthew McConaughey, alongside strategic investors like CrowdStrike CEO George Kurtz. Later in 2022, 1Password acquired Passage, a Texas-based passkey technology provider, accelerating its move toward passwordless authentication.

Through 2023 and 2024, 1Password focused on integrating these acquisitions into its platform and expanding its enterprise footprint. The company launched Extended Access Management, a product category that addresses the security gap between managed enterprise devices and unmanaged personal devices and applications. It also introduced agentic AI capabilities for identity security, including Secure Agentic Autofill.

In July 2025, co-CEO Jeff Shiner transitioned to executive chairman, leaving David Faugno as sole CEO. In November 2025, 1Password announced it had surpassed $400 million in ARR and appointed Michael Hughes as President and John Torrey as Chief Business Officer. The company also completed a $100 million secondary share sale at its existing $6.8 billion valuation, providing liquidity to early employees and investors. Faugno publicly confirmed the company is free cash flow positive and growing at roughly 70% year-over-year in customers spending more than $100,000 in ARR.

1Password published its Environmental, Social, and Governance (ESG) policy in April 2025. The policy outlines the company's approach to environmental impact, social responsibility, and governance practices.

As a software company, 1Password's direct environmental footprint is small relative to manufacturing or consumer goods companies. The company's sustainability efforts focus on reducing the environmental impact of its cloud infrastructure, office operations, and employee travel. 1Password emphasizes remote work flexibility, which reduces commuting-related emissions across its distributed workforce.

The company's core product is built on Zero Knowledge architecture, meaning 1Password cannot access or read data stored in user vaults. This design choice aligns the company's business model with user privacy at a fundamental level. The company has not faced regulatory action or credible criticism for misleading privacy claims.

1Password is not a Certified B Corporation. The company runs a community impact program called 1Password for Good, which supports cybersecurity education initiatives and digital literacy programs.

1Password has received consistent industry recognition for its product quality, growth, and brand impact.

• Forbes Cloud 100: Named to the Forbes Cloud 100 list for the fourth consecutive year in 2025, recognizing it among the top private cloud companies globally.
• Fast Company Brands That Matter (2025): Recognized in the Brands That Matter Global category for brand resonance beyond customer acquisition.
• Fast Company Innovation by Design (2024): Recognized in the security category for product design and user experience.
• Fortune Cyber 60: Included in Fortune's Cyber 60 list, recognizing leadership in the cybersecurity industry.
• AWS Partner Award (2025): Received an AWS Partner Award for integration and performance within the Amazon Web Services ecosystem.

1Password has largely avoided the severe security breaches that have impacted competitors like LastPass, which suffered a major vault breach in 2022. However, the company has faced criticism on other fronts.

Pricing and subscription model backlash: 1Password has drawn periodic criticism from its legacy user base regarding pricing changes and the transition from standalone licenses to mandatory subscriptions. In 2024, the company announced price increases for individual plans, drawing complaints on Reddit and technology forums. 1Password stated the increases were necessary to fund ongoing security infrastructure and product development. The company has not reversed the price changes.

Electron framework transition: The company faced significant pushback from power users when it transitioned its desktop applications to the Electron framework in 1Password 8, particularly on macOS. Critics argued the new application was heavier, less native-feeling, and consumed more system resources than previous versions built with native Apple frameworks. 1Password maintained the architectural change to unify its codebase across platforms and has not offered a native alternative.