1Password Has Raised $620M

People thinking this is an absurd amount of money are sleeping on how 1Password is quietly positioning itself to become <i>the</i> ground truth storage solution for corporate secret management, across devops and non-technical groups alike.<p>Given Hashicorp&#x27;s market cap of 11B, and 1Password&#x27;s narrative on how to become even <i>more</i> central to corporate use cases by being the storage layer for Vault deployments, it&#x27;s a very reasonable leap for them to make!<p><a href="https:&#x2F;&#x2F;1password.com&#x2F;secrets&#x2F;" rel="nofollow">https:&#x2F;&#x2F;1password.com&#x2F;secrets&#x2F;</a><p><a href="https:&#x2F;&#x2F;1password.com&#x2F;secrets&#x2F;integrations&#x2F;" rel="nofollow">https:&#x2F;&#x2F;1password.com&#x2F;secrets&#x2F;integrations&#x2F;</a><p><a href="https:&#x2F;&#x2F;1password.com&#x2F;enterprise-password-manager&#x2F;" rel="nofollow">https:&#x2F;&#x2F;1password.com&#x2F;enterprise-password-manager&#x2F;</a>

I really wish they weren&#x27;t doing away with 1password classic and the native mac app. I like the fact I bought a license, that I can store the data on dropbox or icloud, and it works just fine.<p>Yes, this is old news and sour grapes on my part. I just don&#x27;t yet feel like migrating to bitwarden.<p>I&#x27;ve been using 1password for 12 years since I saw it on a tutorial on peepcode.com. I actually taught my mother how to use it, she&#x27;s been using it for 9 years, and last weekend she was upgrading all her passwords to use 2fa with the QR code capturing facility.<p>We had to go find the 1password classic browser extension (something stopped working, needed to reinstall it) and that took a bit of doing. 1password is not making it easy to find anymore, and when she contacted customer support (before talking to me), their response was to upgrade to a paid account and store your passwords on a server.<p>Ugh.<p>Honestly, now that they&#x27;ve raised this much cash, would it really be that big of an inconvenience or lift for them to give mac users a native app instead of the electron one and keep allowing legacy users like me to use 1password with our existing licenses and dropbox?<p>I think they&#x27;d be able to hire some additional developers and product&#x2F;project people to make it happen. Not continuing to work on the classic project just feels like a kick in the shins.<p>Now, I&#x27;m building out my kubernetes cluster at home, and bitwarden is something I&#x27;m going to experiment with as a backup, but 1password 7 works fine and I just don&#x27;t want to migrate to a paid account.<p>C&#x27;mon 1password, make your legacy customers happy!

This kind of announcement tends to ring all kinds of alarm bells for me. What kinds of changes should we expect to make those huge investments worthwhile for the investors?<p>My 1Password installation is grandfathered from a time when it was just a standalone app, without subscription. Will it just stop working one day to bully me into subscribing? Can you even start using 1Password these days without buying a subscription? I&#x27;ll have to start looking for alternatives today.

Seems like a lot of people are missing the piece as to probably why they need the money (and where they&#x27;re pointing the company in the future). Future of 1Password: <a href="https:&#x2F;&#x2F;www.future.1password.com&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.future.1password.com&#x2F;</a>

They will probably go Dropbox route. Dropbox used to be an excellent file sync cloud service with a robust support on many platforms. They did just one thing and did it well. Now Dropbox is positioning themselves as business-team-collaboration-streamlining-platform for everything whose software is balancing between poorly programmed malware and useless enterprise bloatware.

Both the Fastmail[0] and Privacy [1] integrations have made 1Password a joy to use in the past few years. I&#x27;ve used premium BitWarden in the past, but the UX of 1Password is hard to beat. Congrats to the 1Password team!<p>- [0] <a href="https:&#x2F;&#x2F;blog.1password.com&#x2F;fastmail-masked-email&#x2F;" rel="nofollow">https:&#x2F;&#x2F;blog.1password.com&#x2F;fastmail-masked-email&#x2F;</a> - [1] <a href="https:&#x2F;&#x2F;blog.1password.com&#x2F;privacy-virtual-cards&#x2F;" rel="nofollow">https:&#x2F;&#x2F;blog.1password.com&#x2F;privacy-virtual-cards&#x2F;</a>

They&#x27;re a paid service. Why do they need so much extra funding?!<p>There&#x27;s definitely going to be a feature creep and annoying changes.<p>Time to consider the alternatives again :(

`But we don’t just want to keep up; our goal is to push the envelope and explore beyond the boundaries of traditional password management.`<p>Hmmm, sounds like the time to migrate may be sooner than I&#x27;d hoped.

Eh. I used to use 1Password long ago, when it was still a &quot;normal&quot; app (one-time payment, not trying to become a unicorn). It was easy for me to switch password managers (my needs are modest, and I generally like to break my app habits once in a while). My journey included (1) self-written manager; (2) LastPass; (3) pass CLI, and (4) Bitwarden (free tier).<p>I&#x27;m now a happy Bitwarden user. It&#x27;s ugly, and I&#x27;m a UX designer, but it&#x27;s the least worst! (to me)

As a paying costumer I can only say that the last thing I want from my password manager is for it to push the envelope and explore any boundaries.

Just makes it more clear: this is no longer a product for &quot;us&quot;.

For some very rough context:<p>- Duo was acquired for $2.35B<p>- Ledger was valued at $1.5B<p>- Dashlane was valued at $1B<p>- Yubico was valued at $600M<p>- LastPass was acquired for $110M<p>- Trezor has an annual revenue of $5M<p>- Authy was acquired after receiving investments of $3.8M

Bummer.<p>I used to be a huge advocate for 1Password.<p>Purchased a single license for $60 back in the day. Backed up my vault to Dropbox.<p>For a few years, it was the best app I&#x27;ve ever bought.<p>Now with the upgrade to monthly subscription, my Windows machine is stuck on a crappy legacy version of the app. I get that every company and their mother wants that $A$$ money, but I truly miss the simplicity.

Everyone who’s just looking at this as a simple password app might be missing the boat. One killer feature for enterprise customers is teams can share secure variables as well as new credentials for services. Now I imagine a world where 1Password can be a secrets manager for your environments. I know a lot of cloud services offer this already however they’re not always great, and since most of your org may be using 1Password this would be a huge value add.<p>I think what this is fueling is the ability for 1Password to grow beyond a password manager to handle other sensitive sharable data

Every time I see such a pre emptive money grab (1p doesn’t need all this money upfront- they could fund new features and growth from paying customers) I know that prospective users will have to pay back a multiple of the 600M back to the investors. Why would I choose 1pass, knowing that they’ll want even more money in the future, in perpetuity, when free alternatives exist? I also feel like it makes them a super juicy central attack target for both commercial and state sponsored hackers.

Back in the early smartphone days one of the last mobile games that I recall that simply cost money and didn&#x27;t nag you for in-app purchases was Angry Birds. You may be tempted to correct me because modern Angry Birds looks nothing like this. Trust me, it was once $1-5 and that was it. And it was pretty popular for a time.<p>Anyway around this time Rovio (the game studio) raised $42M [1] and I distinctly remember thinking &quot;well that&#x27;s a huge mistake&quot; and &quot;this is the end&quot;.<p>Companies that produce creative content just don&#x27;t scale in a way that&#x27;s compatible with VC. I include game studios and content creators like Netflix in this. Netflix is a prime example of how you just can&#x27;t throw money at creating content and become HBO. While I agree with Netflix&#x27;s need for original content, it&#x27;s become so expensive that their monthly subscription is now too expensive for many to just have and ignore (with the recent price hike it&#x27;s more expensive than HBO Max).<p>Anyway, I use 1Password having previously used LastPass and pay for it. I have a bad feeling about this funding round because what can possibly justify it?<p>To those who argue there are free alternatives, that&#x27;s true but any I&#x27;ve used just aren&#x27;t as good. It&#x27;s not just generating and storing a password and filling out a form. So many companies have subtleties that make this annoying. Maybe it&#x27;s the username on one page and then password on another. Or the form filling out is incompatible with some shitty Javascript or whatever. This is the real value of 1Paswword.<p>And can I just complain for a second about how some sites (I&#x27;m looking at you American Airlines) add a third field (surname for AA) for no reason whatsoever, which is just awkward for a password manager.<p>I did learn from this post about the Fastmail integration to automatically create one-use passwords. This is a feature I&#x27;ve long wanted and I&#x27;m surprised that Gmail doesn&#x27;t do this because it seems like such an easy win for users. I may have to sign up for that.<p>[1]: <a href="https:&#x2F;&#x2F;www.reuters.com&#x2F;article&#x2F;rovio-accel&#x2F;angry-birds-creators-rovio-raises-42-million-idUSLDE72918B20110310" rel="nofollow">https:&#x2F;&#x2F;www.reuters.com&#x2F;article&#x2F;rovio-accel&#x2F;angry-birds-crea...</a>

I&#x27;ve been using 1password for years and so far haven&#x27;t had any problem, all apps (desktop and mobile) work great, but I don&#x27;t understand why they would need this kind of money, especially considering it&#x27;s not free or cheap service.

I don&#x27;t know if anybody uses Edge like me, but I feel like people should know that Edge with Authenticator works VERY WELL for password management. It is very close to feature parity with Lastpass and 1Password, it&#x27;s cross platform, and it&#x27;s free. After something like eight years, we dropped our subscription to LastPass.

Congrats I guess? It&#x27;s been incredibly disappointing as an end user who has been on a local vault for something like ten years to be told I have to use the cloud offering if I want a version of the 1Password app on Windows that is actually equivalent to the Mac version.<p>It&#x27;s just about as annoying as being required to ( pay for the upgrade ) to v7 in the first place because they couldn&#x27;t ( or wouldn&#x27;t? ) fix the code signing issue on v6 that broke browser integration a few years ago.<p>I really like 1Password, honestly, but I wish there was a long term support standalone-license version that just gives me the basics and local&#x2F;dropbox vault storage. I explicitly do not care to rely on another cloud service, especially so for my vault of private information.

I’ve been using the older 1Password 6 version for a long time with Dropbox syncing. This is the version that still had perpetual licensing.<p>And it works just fine. I can see why they’re pushing so hard to force everyone to their paid SaaS service: I haven’t paid them additional money in years and yet my setup works perfectly well.<p>Eventually, though, one of the browser extensions will stop working and they’ll insist I upgrade if I want to keep using it.<p>My only hope at this point is that some other company will come along and make a password manager with equivalent UX (the only missing piece from competing products) and undercut them. Surely someone can do it with, say, only a couple million dollars invested instead of hundreds of millions.

Used 1Password for years and years. Being forced to have my password database leave my control and be hosted by a third party, AND pay a subscription fee for the privilege was a bridge too far.<p>I now have a vault-warden docker running on my Synology NAS at home. I have Bitwarden running on my computers and mobile devices. I have no ports open to my NAS. I&#x27;m using a UDMpro router and have an L2TP VPN configured. This allows me remote access. I pay nothing and I&#x27;m in complete control of my password data. This has turned out to be a wonderful setup and I&#x27;m very grateful that it&#x27;s possible.

This sounds like they might go enterprise and go after Okta and the like

Question from the community comment thread here:<p>How many people are actually going to change away from their current 1 password account as a result of this OR how many will watch 1 password and make a move in the future if product lowers their quality vs how much of this comment thread is people expressing viewpoints but aren&#x27;t tied to the product in a real way?<p>Obviously tough to validate but I feel like a lot of the comments are just knee jerk reactions without any real action tied to them. Curious if I am on the margin of comments though.

Skimming through their jobs board. Their are approx 100 &quot;talent acquisition&quot; roles open. Engineering is like 20 roles. What the hell are they going to do with so many recruiters?

I will still recommend 1Password over Bitwarden to non-tech people because their whole UX journey is so well crafted that even my parents can understand it on their own. The valuation is most likely based on that and the potential growth in that market.<p>I use and pay for Bitwarden but even I always get lost in the clunky UI and get frustrated by basic tasks (to a point I am considering switching). And it only gets worse when you have multiple teams and all the secrets are mixed up.

Use a tiny portion of that to continue support for local, non-cloud-based vault files please.

I am surprised people are worried about 1Password getting this money and not caring about their users. How about at least they have money to be alive for the foreseeable future. I am worried about free password managers because they are broke and could sunset the app at any point and now I have to go find something else, or better yet, no financial incentive to do the best thing for the app. They do it for fun. My security is not for fun. LOL

You&#x27;d think with $620M they&#x27;d be able to continue to develop native applications and not &#x27;have&#x27; to move to a javascript react monstrosity.

&gt; It feels like yesterday that I was excited to cross the 100-employee threshold, yet here we are just a few years later approaching 600.<p>For a password manager? Damn.

620m at a 6.8bn valuation is staggering. If they IPO at 10bn in a year they need a plan by then to grow towards a 30bn valuation, otherwise doing an IPO makes no sense. That is unbelievably ambitious for a password app.<p>The founders are clearly willing to bet their company on their expansion plans. In the post they allude to expanding to the security space more generally. Curious to see this develop in the coming years.

First question is where does password manager spend that amount of money. Second question who gives that amount of money to less than 10% of password management company... Sure it can have billions of users, but still it is in no way novel or complicated product. In sense it takes anywhere near that sort of money to build or manage...

I can see the use case for these online password apps.<p>But I can&#x27;t for the life of me understand why KeePass isn&#x27;t the defacto gold standard.<p>It&#x27;s secure, open source and you have control over the data. I would never for the life of me think of storing my important passwords with a company ever. Am I over reacting?

1Password lost me when they went subscription model and required mandatory servers on their system to keep it running. It went from being one of the best password storage solutions to one of the worst. I&#x27;m still using 1Password 6 as that was the last version which could run offline.

Yeah, I&#x27;ve never seen a company so keen to alienate it&#x27;s core audience.<p>Well, at least not for a few years.

Friendly reminder that I have a list of alternatives here:<p><a href="https:&#x2F;&#x2F;taoofmac.com&#x2F;space&#x2F;apps&#x2F;1password" rel="nofollow">https:&#x2F;&#x2F;taoofmac.com&#x2F;space&#x2F;apps&#x2F;1password</a><p>(I am now using Secrets while trying out iOS-friendly KeePass implementations)

Regardless of the TAM of secret management and the enterprise market for it.. this is a ton of money. I don&#x27;t fault 1Password for taking it if it was offered, but I personally find it off-putting. How can the market opportunity be so compelling to justify that level of investment, but at the same time require that much capital infusion to chase? If there is enough demand it should be possible to balance funding from external investment and cash flow. They&#x27;ve been around 17 years, so my hope is it is just early investors cashing out on a $7B valuation, which seems doesn&#x27;t seem unreasonable. It is hard to know without more details.

I have 1Password installed on my Mac and in my browsers. Yet for some reason I’m constantly asked to enter my master password. Like 20 times a day. Rarely does it accept just ny fingerprint. Rarely does it work without forcing a reload of the browser. It seems like the different apps and browser tabs are constantly competing with each other and making my day miserable. Anyone have a solve for this? Am I the only one?<p>I wish it just worked so that anytime I needed to fill a password, I just scan my finger and get right in. Why can’t it be that simple?!!!!!!!

1password handed out a $70 off $70 purchase (or the approximate cost in CAD of their family plan) Amex credit last year. Paired with Rakuten, I made a profit by purchasing it. Now I can see why they did it.

Jesus Christ this is infuriating. Now I have to go find a different password manager that will just take my money, be profitable, and not become another fucking SV unicorn horror show capitalist wet dream.

Anyone have any insight on how a company like this would even use $620m?

I think if they use this for R&amp;D more into security, I wouldn&#x27;t mind. It will be better for consumer overall.<p>Password manager is still hard to use for the elderlies and technically non savvy people.

I used to use Lastpass but once they were bought out, I bailed. Anytime I see these types of Password articles I always like to share that I&#x27;ve been using Dashlane for years and love it. Multi-platform and now its all browser based. The iOS app is great too. It also includes a VPN with the pro plan. <a href="https:&#x2F;&#x2F;www.dashlane.com&#x2F;cs&#x2F;1k5JfApcebh1" rel="nofollow">https:&#x2F;&#x2F;www.dashlane.com&#x2F;cs&#x2F;1k5JfApcebh1</a>

Tbh, since using Firefox Sync, I have no idea why people would need anything else to manage their passwords ... Can anyone enlighten me why I would need 1Password?

I&#x27;ve no idea why would profitable company that does password management ever need to rise such amount of money. This could be an intro for big exit, who knows. They will literally have to throw their users under the bus, limiting features and increasing existing plans. Expect 50% price increase in the next 6 months, alongside with some &quot;great feature&quot; with which they&#x27;ll try to justify the price increase.

Are &quot;password storing&quot; tech companies worth a billion or so?<p>And what&#x27;s the &quot;unique selling point&quot; that stops me switching from one to another?

1Password will go to the path of LogMeIn, Okta and OneLogin. Holding corporations literally by their neck (login) can generate *a lot of money*

Great news for a great team. 1Password makes a very solid product and the company genuinely helps improve the security ecosystem for their users (and, through working with browser vendors on things like extension security, all of us).<p>Hopefully they don’t go all cryptocoin and NFT with the funding… but given their dna, I think they will expand wisely.

I learned about services I didn&#x27;t know about yet, Secrets Automation, and the Fastmail integration.<p>I can&#x27;t find Secrets Automation pricing info. Is it just, every developer needs a paid 1password account and that&#x27;s it, or what?<p>*edit* oh wait I just found it, the answer to pricing is &quot;Contact Sales&quot;. Booooo.

Great for 1Password - I love the tool and I&#x27;m a strong advocate. But ...<p>Why such a large round? Why not go for an IPO?

Has anyone here speculated they might intend to use such a substantial piggy bank for some radical new aspect to their product [line]?<p>Not sure what... eg. perhaps some server-facing &amp; app-facing API that would log customers in more touchlessly in a bid to become the SSO nexus of the world.

This on the surface seems like a ton of money… but I don’t know anything about this level of funding &#x2F; valuations so who knows.<p>I love 1Password and use it for business and for personal. I recommend it to family and have migrated many people to a more secure setup as happy paying customers. Shared vaults for families are so important for emergencies.<p>It’s expensive though.<p>It doesn’t provide a quick way to share a URL with a client that isn’t a PITA.<p>The interface could be prettier and make more sense. Like why is the “new” button almost a secret location and barely visible.<p>Enabling two-factor with it is the absolute BEST but was buggy setting up. No simple iOS integration either.<p>There hasn’t been any super “major” updates in like 2 years to functionality (despite what blog boasts)<p>List goes on but it’s the best for now.<p>I can’t justify paying more. So hopefully there huge funding plan isn’t to squeeze little folk and is more for big business.<p>If Apple just went a little bit further with its manager (or even Google) I’d probably jump ship.

Why does a password manager need that kind of money ? They have their server software, apps&#x2F;clients and infrastructure in place. They also have customers and presumably earn enough to maintain and grow.<p>What is it that they plan to add that needs 620 mil ?

As someone who uses the non-subscription version of 1-password (iOS only, syncs amongst my iOS devices but no use on my Mac) I wonder how soon they’ll pull the plug on this.<p>Wish I could be happy for them but instead I’m worried that I’ll lose what I have.

I have as of yet been able to find a password manager I actually enjoy and doesn&#x27;t have its share of problems. LastPass, 1Pass, NordPass, Enpass, KeePass...all of them fall short or feel slow&#x2F;buggy or have poor integrations.

Well, we&#x27;re using dashlane for free right now and planning to pay for it (It&#x27;s really cheap). I don&#x27;t know what would be the use case for switching to this brand since now their focus will be to grow or die.

This makes me want to consider switching away as they know will have monetize so who knows how they will mess with me in the future. Any options out there that supports the same range of clients and are privately held ?

Good for them, but not sure why they need so much money for a 100% paid product.

Bitwarden, please for the love of god add multi-account support. I know it&#x27;s in the works but it&#x27;s taking too long. I have work accounts and personal accounts. 1Password boiled the frog with pricing.

Now I know why Bitwarden was on the HN homepage a few hours earlier.

I love 1Password personally but hate using multiple vaults for corporate . So no company I run will ever use 1Password as it would annoying. B2c forever B2B ain’t ganna happen

Maybe with that kind of capital they can afford to fix OAUTH now?

any alternative you folks recommend?

A password manager utility? Are we at peak VC profligacy yet?

&gt; ...explore beyond the boundaries of traditional password management.<p>This is a 50-50 proposition, at best.<p>I hope this doesn&#x27;t mean I&#x27;ll need to start looking or a new password manager.

First LastPass and now 1Password. All downhill from here.

Congratulations to all the folks at 1PW! It&#x27;s been a slog.<p>I&#x27;m very bullish on 1Password. They are the only product that I can use across my entire family and workplace with such little hand holding.<p>While they&#x27;ve pretty much solved the consumer front, there is much to be done to solve the needs of businesses. For example, right now if an employee leaves, we have to rotate everything they had access to. Their SSO support and API are pretty new, but historically managing vaults and users has been a pain. They&#x27;re making steady progress.<p>I&#x27;m excited to see what comes next.

How will a password storage service make enough money to justify this mind-blowing valuation? Is selling to a bigger company their only goal now?

I&#x27;m just amused at all the hollywood names on the PR...I mean if Black Widow herself was in on this funding round, it really must be secure!

Has anyone migrated easily between password managers? Manually entering my (hundreds?) of unique logins&#x2F;passcodes would be quite a chore.

For those of you jumping ship, bitwarden is pretty decent if you&#x27;d rather not kludge the keepass route across devices&#x2F;mobile.

Presumably a stepping stone on the way to 1Password being acquired by a major tech company, e.g. Microsoft, Google, or Apple?

Question for consumer users of this service who are also Apple users — how does it compare to Apple’s password management?

I hope that&#x27;s enough to finally make a Chrome extension that works. Theirs seems significantly broken half the time.

Here&#x27;s to hoping that 1Pass IPOs instead of goes for acquisition (which would be awful; see also: LastPass).

I switched from pass to 1password because my family kept on losing the password. 1password family plan is badass.

Congratulations. Authentication on internet is still a hugely underdeveloped topic, especially for normies. All the non-IT people basically have 5 weak passwords reused on 100 sites, written down on a piece of paper next to their computer or in their wallet. And of course what they don&#x27;t know is all of those passwords were leaked 100 times anyway. This is a serious issue in digital society, to be fair.

Who in the fuck values 6.8B dollars for a password manager?<p>For that kind of money you can build (apparently) 10-20 of them.

The question to ask is WHY did they raise that much? What are they going to be using that much cash for?

I really hope the fed raises interests rate ASAP since inflation seems to be getting out of hand.

I still boggle at the scale of investments these days.<p>What does a company like 1Password do with that much money?

Lol software like 1pass seem so pointless in days of web browsers with sync and 2fa. Deadset not really much of a reason to use them unless your like...no Microsoft in your stack at all. But I mean your probs burning coin on all kinda stuff if that&#x27;s the case so paying double for a built in func probably wouldn&#x27;t surprise me.

That was a quick answer to Bitwarden&#x27;s post that gathered some upvotes earlier today!

If they IPO, when&#x27;s a good time to enter a short position? 1 month after? Longer?

620M is too much for a password manager, so we can safely assume it is no longer one.

Is there any practical way for anyone but the user to access any of the stored info?

Great, maybe now they&#x27;ll be able to afford native apps instead of Electron...

you can write your own password manager in a weekend. the encryption code is trivial. it&#x27;s just a matter of ui&#x2F;ux. and if you&#x27;re making it only for yourself, that&#x27;s not a problem. highly recommended

Good on &#x27;em.<p>I&#x27;ve used 1Password for years.<p>It would be nice to say goodbye to Electron, though...

Am I missing anything with 1Password, already using Bitwarden?

Now I understand why they sold out. Nothing gold can stay.

I can’t trust 1Password when everything is stored in cloud.

Are we in a bubble?

Anyone have a guess on 1Password company revenue?

One product I&#x27;m truly happy to pay for

I am an exceptionally happy Bitwarden user

Auth0 acquires 1Password. Problem solved.

1Password has 600 employees?<p>What do they all <i>do</i>?

This people have lost their minds.

Damn, that&#x27;s pretty cheap.

Microsoft should buy them.

This is terrible news.

Time to migrate.

Lol

Congratulations 1Password! AMAZING

1Password still even exists ?!

I love 1password :)

&quot;1Password Has Raised $620M&quot;<p>Ah fuck. They now need to grow at any cost to earn all that money back. And they&#x27;ll throw their users under the bus, if they have to, because it&#x27;s either grow like a unicorn or go bust.<p>Also, I sincerely have no clue how a password manager could be so expensive. Last time I checked, the excellent KeePassXC was still free open source and developed by volunteers in their free time. How come 1Password needs the equivalent of 7750 years of $80k annual salary to build the same?