1Password

1Password was founded in 2005 by Dave Teare and Roustem Karimov, who set out to solve a simple problem: managing many website passwords conveniently and securely.⁠[1]

The founding team included Dave Teare, Sara Teare, Roustem Karimov and Natalia Karimov, who came up with the product idea while running a website-building company.⁠[2]

1Password was first released in May 2006.⁠[1]

In May 2011, the maker of 1Password changed its company name from Agile Web Solutions to AgileBits, while the 1Password product name remained unchanged.⁠[3]

In 2012, Jeff Shiner, who had held leadership roles at IBM Canada and Rosetta, joined the company when it had a team of about 20 people. He went on to serve as chief executive for many years, growing it into a global organization of about 1,400 employees.⁠[4][5]

On November 14, 2019, 1Password announced that Accel would invest $200 million for a minority stake. The company said that over the previous 14 years it had been completely bootstrapped, had never taken outside investment and had been profitable throughout; it had grown from 2 to 176 employees and had more than 50,000 paying business customers.⁠[1]

The investment was the largest initial investment in Accel’s 35-year history, and Accel partner Arun Mathew joined 1Password’s board of directors. The round was later described as a Series A.⁠[1][2]

In April 2021, the Dutch company SecretHub joined 1Password. Founded by Marc Mackenbach in 2014, SecretHub initially offered an end-to-end encrypted file syncing service before shifting to secrets management tools for developers. The acquisition helped 1Password launch Secrets Automation, a product for protecting business infrastructure secrets.⁠[6][2]

On July 27, 2021, 1Password announced a $100 million Series B led by Accel, doubling its valuation to $2 billion. Participants included Ashton Kutcher’s Sound Ventures, Kim Jackson’s Skip Capital and technology executives including Tobias LütkeTobias LütkeTobias Lütke, who also goes by Tobi Lütke, is a programmer, the co-founder and chief executive officer of Shopify, and a startup investor. He took part in the Ruby on Rails open-source community, has served as Shopify’s CEO since April 2008, and joined the board of Coinbase in 2022.Open the full entry, Stewart Butterfield and Kevin Hartz. The company had recently crossed $120 million in annual recurring revenue (ARR) and had more than 90,000 business customers.⁠[2]

In January 2022, 1Password raised a $620 million Series C led by ICONIQ Growth at a $6.8 billion valuation, with participation from Lightspeed Ventures, Tiger Global and Accel. The company expected 2021 revenue of about $150 million, roughly 60% from businesses; it had more than 100,000 business customers, and headcount had grown from 177 in 2020 to about 570. It planned to use the funds to improve its products, grow the team to more than 1,000 people and explore acquisitions.⁠[7]

On November 3, 2022, 1Password announced the acquisition of Passage, an Austin-based authentication startup, for an undisclosed price. Co-founded by Cole Hecht and Anna Pobletts, Passage built tools that let developers and businesses add passkey capabilities to websites and apps; its team joined 1Password’s engineering organization. CEO Jeff Shiner said the company had been looking for a passkey company for about a year.⁠[8]

In September 2023, 1Password appointed David FaugnoDavid FaugnoDavid Faugno is a business executive who is chief executive officer of identity security company 1Password; he was previously longtime chief financial officer of Barracuda Networks and chief financial officer of Qualtrics.Open the full entry, a former chief financial officer of Qualtrics and Barracuda Networks, as its first president and chief operating officer, tasked with helping the company scale into new markets and products. Jeff Shiner said at the time that the company had reached $250 million in ARR, with 50% year-over-year growth in business sales.⁠[9][10]

On February 20, 2024, 1Password announced the acquisition of device security company Kolide, without disclosing terms. Kolide offered access management based on device health, blocking access from risky devices and guiding users to fix issues themselves; its entire team joined 1Password. Kolide’s customers included Databricks, Robinhood, Discord and AndurilAnduril IndustriesAnduril Industries is a defense technology company headquartered in Costa Mesa, California, United States, co-founded in 2017 by Palmer Luckey and several former Palantir and Oculus employees. It develops autonomous drones, unmanned undersea vehicles, border surveillance towers, counter-drone systems, and the Lattice command-and-control software, and builds its own large-scale weapons manufacturing facilities. As of May 2026, the company was valued at $61 billion.Open the full entry.⁠[11]

In May 2024, 1Password launched Extended Access Management to secure sign-ins from managed and unmanaged devices, with user identity and application visibility components planned for beta in fall 2024. The company also announced it had surpassed 150,000 business customers.⁠[12]

In November 2024, 1Password announced that Jeff Shiner and David Faugno would serve as co-CEOs effective immediately: Shiner would lead product strategy, engineering and security and remain chair of the board, while Faugno would lead business strategy, including growth, customer experience and financial strategy. The company then had more than 1,300 employees across five countries.⁠[13][14]

In July 2025, Jeff Shiner, who had been CEO for 13 years and most recently co-CEO, became executive chair of the board, focusing on long-term strategy and serving as the board’s agentic AI sponsor; David Faugno continued to lead the company as CEO and joined the board. The company said it was trusted by more than 165,000 businesses and had pioneered Extended Access Management as a cybersecurity category.⁠[5]

In November 2025, 1Password said its ARR had surpassed $400 million that year, up from $250 million in 2023, while remaining free cash flow–positive; it served more than 180,000 businesses, including nearly a third of the Fortune 100, and had about 1,400 employees. Some co-founders and long-tenured employees had sold part of their shares in a $100 million secondary sale.⁠[15]

CEO David Faugno said that at its current scale and profitability 1Password “could be public today,” but that he wanted to see predictability and repeatability first and gave no timeline for an IPO; he expected the company to pass $500 million in ARR before long and to keep scaling toward $1 billion in ARR.⁠[15]

On July 28, 2026, 1Password launched 1Password Privileged Access, extending its Unified Access platform into privileged access management with just-in-time, just-enough access to critical infrastructure and zero standing privilege.⁠[16]

On October 22, 2026, 1Password announced that its ARR had surpassed $500 million, with net new ARR growing about 60% through the first three quarters of fiscal 2026 and about 90% year over year in the third quarter. The company attributed the acceleration to adoption of its developer and AI security tools, whose monthly active usage grew 200% year over year; more than 200,000 businesses used 1Password, including 85% of the Forbes AI 50, and net new logos in the third quarter rose 150% year over year.⁠[17]

The company also reported that customers spending more than $100,000 in ARR grew by more than 40% year over year, gross retention stayed above 90%, and free cash flow margin remained in strong double digits. The same day it launched 1Password for Agents, which lets personal AI agents use approved credentials to complete tasks without being exposed to the underlying credentials.⁠[17][18]

1Password is headquartered on Yonge Street in Toronto, Canada, and has more than 1,400 employees worldwide. Its terms of service name “AgileBits Inc. dba 1Password” as the contracting entity, governed by the laws of Ontario.⁠[19][20]

As of October 2026, David Faugno is CEO, Michael Hughes is president, Jeannie De Guzman is chief operating officer and Greg Henry is chief financial officer. The board includes executive chairman Jeff Shiner, David Faugno, Accel partner Arun Mathew, founder Sara Teare, ICONIQ partner Will Griffith, Cloudflare president of revenue Mark Anderson and former Zscaler chief strategy officer Manoj Apte.⁠[19]

1Password: Official website: https://1password.com/ (opens in a new window)⁠[21]

X: Official account: https://x.com/1Password (opens in a new window)⁠[21]

LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: Official account: https://www.linkedin.com/company/1password/ (opens in a new window)⁠[21]

YouTubeYouTubeYouTube is Google’s video-sharing and creator platform, founded in 2005 by Steve Chen, Chad Hurley, and Jawed Karim and acquired by Google in 2006. Built around video uploading, viewing, and creator earnings, the platform has developed Shorts, YouTube Music, Premium, YouTube TV, and products for children, and is headquartered in San Bruno, California, United States.Open the full entry: Official account: https://www.youtube.com/1PasswordVideos (opens in a new window)⁠[21]