1Password raises $620 million in latest funding round

Password manager 1Password said it closed its latest funding round on Wednesday, raising $620 million and boosting its valuation to $6.8 billion.

The Series C funding round included the participation of ICONIQ Growth, Tiger Global, Lightspeed Venture Partners and Backbone Angels and Accel, which led the Canadian company’s series A and B rounds. 

Celebrities like Ryan Reynolds, Scarlett Johansson, Robert Downey Jr., Matthew McConaughey, Chris Evans, Rita Wilson, Ashton Kutcher, Trevor Noah, Justin Timberlake and Pharrell Williams also participated in the series C round. Executives like Robert Iger and LinkedIn’s Jeff Weiner invested in the company as well. 

“Our mission has always been to ease the tension between security and convenience, and the opportunity to deliver on this has never been bigger for 1Password. We create products and solutions that improve upon and easily layer into a company’s existing security infrastructure, nurturing better habits for employees while strengthening a company’s security posture from within,” said Jeff Shiner, CEO of 1Password.

“That way, we can tackle the biggest security threats facing the modern workforce and deliver on the promise of providing a safer life online for families and businesses around the world,” Shiner continued.

1Password told ZDNet it would use the money to scale the platform

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