1Password founders and management took US $299.5M off the table

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By Ted Liu

On January 19, 2022, 1Password announced the closing a US $620 million Series C transaction that valued 1Password at US $6.8 billion.

ICONIQ Growth led the financing and was joined by Tiger Global, Lightspeed Venture Partners, Backbone Angels, Salesforce Ventures, Accel (led the company’s Series A and B), Slack Fund (another previous investor) and a large group of private investors.

The Series C financing consisted of a primary funding round and a secondary transaction.

US $299.5 million of US $620 million went to company founders/directors by way of secondary purchases of shares held by them.

Founded by Dave Teare, Natalia Karimov, Roustem Karimov, Sara Teare and led by CEO Jeff Shiner, 1Password a developer of privacy-focused password manager that keeps user safe online. “1Password’s human-centric approach to security keeps people safe, at work and at home. It’s the only solution built from the ground up to enable anyone – no matter the level of technical proficiency – to navigate the digital world without fear or friction.”

photo credit: 1Password