TORONTO--(BUSINESS WIRE)--1Password, a leader in identity security, today announced it has surpassed $250 million in annual recurring revenue (ARR). Revenue growth has been bolstered by 1Password’s business segment momentum, with business-to-business revenue growing 50% year-over-year and comprising two-thirds of the company’s total revenue.
The rapid adoption of remote or hybrid work and the rising number of cloud applications and devices have increased the complexity of business security requirements faster than legacy vendors can keep up with. As a result, leaders are turning to 1Password to secure access to business assets while enhancing employee productivity and satisfaction, regardless of employee location or which applications or devices they use. Since its launch in 2018, 1Password Business has expanded its customer roster to include innovative organizations like ALDO Group, Calm, Datadog, Docebo, Figma, the Golden State Warriors, Snap Inc., Wealthsimple, and The Scotts Company, among others.
Enterprise expansion
1Password launched its business solution five years ago to answer market demand for secure and convenient identity security, and is now adopted across businesses of all sizes. Small and mid-sized companies often rely on 1Password at the core of their identity security infrastructure. Larger organizations incorporate 1Password as a vital component of identity and access management (IAM) architectures to ensure secure access to the increasing volume of business applications and data not centrally managed by IT teams.
“The world has undergone a profound transformation in how we work, and 1Password is ushering in a new era for security where customers never need to choose between security and convenience,” said Jeff Shiner, CEO of 1Password. “The market has responded resoundingly to our approach—demand from users themselves has fueled our swift adoption as an essential layer of the security tech stack. While we’re proud of the milestones we’ve reached, we believe this is just the beginning of our journey toward a safer future for everyone.”
Continued innovation to protect people and businesses
1Password protects businesses with zero-knowledge security that’s easy to use, manage, and adapt to an organization’s existing security infrastructure. Administrators can easily understand their company’s security posture and promptly address any vulnerabilities with actionable insights. Some of the notable features include:
- Enterprise integrations: 1Password integrates with Microsoft Entra ID, Okta, GitHub, Datadog, and dozens more, so businesses can easily integrate 1Password into their existing security stack as an extended IAM strategy.
- Secrets management: developers can manage and secure SSH keys, API tokens, and other secrets throughout the entire software development life cycle.
- Passage by 1Password: a new passwordless authentication offering that empowers businesses to offer passkey logins in their apps with just two lines of code.
- Global policy capabilities: centralized policies page allows businesses to administer and enforce essential security policies to stay secure and compliant.
“1Password makes it easy for us to strengthen our business’s security posture, from onboarding new team members to daily workflows to integrating with our enterprise tech stack,” said Christopher Ejbich, IT at Wealthsimple. “Our team loves the intuitiveness of 1Password and appreciates how it allows them to navigate across accounts and devices with ease.”
“1Password helps ensure the security of our people and our work by allowing our teams to share passwords, certificates, and API keys across devices and environments,” said Austin Karr, Director of Enterprise IT, Datadog. “1Password helps make it easy for Datadog to stay secure and compliant so we can continue to focus on building our growing business.”
"Our partnership with 1Password allowed us to equip our campus community with the tools and knowledge needed to cultivate and practice good security habits, ultimately preparing them for the challenges of an increasingly digital future. We appreciate 1Password working with us to create a highly user-friendly experience for our students, making our collaboration even more impactful," said Leilani Lauger, Chief Information Security Officer, University of Notre Dame.
A passwordless future
Last year, 1Password joined the FIDO Alliance alongside Apple, Microsoft, and Google to help build safer, simpler, and faster login solutions for everyone. Since then, the company has released the ability to save and sign in to websites and apps with passkeys on all devices and ecosystems. 1Password also launched a new offering, Passage by 1Password, which allows developers to implement passkey authentication into their apps and websites with just two lines of code. Later this year, users will also be able to sign into 1Password using a passkey, creating the industry’s first fully passwordless experience.
1Password has also been recognized for its business security innovation and named to the Forbes Cloud 100 list, Enterprise Tech 30 list, Liminal’s Companies to Watch, and InfraRed 100 list this year alone.
About 1Password
Trusted by over 100,000 businesses and millions of consumers, 1Password offers industry-leading identity security solutions to reduce risk for companies and provide people with peace of mind. 1Password is on a mission to ease the tension between security and convenience, with solutions that enable powerful password management as well as the future of authentication with passkeys. Since our founding in 2005, 1Password continues to build on the foundation of a beloved, award-winning password manager with its enterprise security platform now trusted by customers like IBM, Slack, GitLab, Under Armour, and Intercom.
