BOSTON--(BUSINESS WIRE)--LastPass, a leader in password and identity management solutions, today announced the completion of its planned separation from parent company, GoTo, formerly known as LogMeIn, Inc. LastPass will operate as an independent company under LMI Parent, L.P., a holding entity of the existing shareholder group.
This marks the beginning of a new chapter for LastPass, which follows the execution of the company’s previously announced separation plans and the establishment of fully dedicated LastPass teams and infrastructure. As part of LastPass’ evolution, the company is now guided by an executive team with extensive cybersecurity experience, having recently appointed new chief product, chief marketing and chief information officers, each of whom are widely respected veterans in the industry and dedicated to a clear vision for the future that is grounded in innovation, security, privacy and trust.
LastPass stands on solid financial ground, with a strong strategic plan aimed at sustainable growth and innovation. This financial plan includes continued investment in technology and research and development to help LastPass continue to meet the varied needs of consumers and businesses worldwide.
In addition, LastPass has invested in establishing a dedicated threat intelligence team. This specialized team is designed to protect the broader LastPass community by proactively monitoring for, analyzing, and helping to mitigate potential threats targeting LastPass, its customers and the greater industry. In 2023, the team helped drive a 98% decrease in credentials offered for sale by information-stealing malware families.
“Our journey forward as an independent company is filled with excitement and gratitude,” said Karim Toubba, CEO, LastPass. “We are entering this new era with a strong market position, underpinned by an unmatched threat intelligence apparatus and an executive team with vast experience spanning multiple security fields. Together, we are all committed to delivering solutions that never compromise on security, quality, or performance – helping to set new standards in the cybersecurity landscape on behalf of our valued customers, dedicated employees, and the industry for years to come.”
LastPass’ official headquarters now reside at 125 High Street in Boston. LastPass is owned by private equity sponsors Francisco Partners and Elliott Management.
About LastPass
LastPass is a leader in password and identity management solutions that helps 100,000 businesses and millions of consumers secure their credentials at work and at home. Since 2008, LastPass has made logins easier, more secure, and accessible across virtually any device. Today, LastPass innovates for a passwordless future by supporting next-generation security solutions that respond to human behavior, including biometric logins and beyond. Learn more via www.lastpass.com and follow us on Facebook, YouTube, LinkedIn, X and Instagram. LastPass is trademarked in the U.S. and other countries.
