Funding round
1Password Series A
1Password, which works in identity and access management solutions in Toronto, raised $200M in a Series A round announced on 14 Nov 2019, led by Accel. 2 firms took part. It is 1Password's first venture round on record.
$200M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
1Password did not disclose a valuation in this round. It is 1Password's first venture round on record, 14 years after it was founded in 2005. It is 22% of the $920M 1Password has raised in the venture rounds on record. 1Password raised again 20 months later: a Series B round of $100M in Jul 2021, at $2.00B post-money.
Investors
Who put money in
Accel led the round with 1 other firm.
Lead investor
- Accel backs 581 venture-backed companies new investor
Also in the round
- Slack Fund new investor
Joined the board: Arun Mathew (Accel).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and sales and marketing.
- Product development
- Geographic expansion
- Sales and marketing
Comparable rounds
How it compares
1,013 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.5M, and this round was 24 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 5 Nov 2019 | $45M | not disclosed | Insight Partners |
| Tech Companies | 12 Nov 2019 | $40M | not disclosed | Fonds de solidarité FTQ and Investissement Québec |
| Tech Companies | 6 Nov 2019 | $40M | not disclosed | Goldman Sachs |
| Tech Companies | 20 Nov 2019 | $25M | not disclosed | Kleiner Perkins |
| Abnormal AI Tech Companies | 19 Nov 2019 | $24M | not disclosed | Greylock Partners |
| Tech Companies | 13 Nov 2019 | $24M | not disclosed | Accelmed and Mivtach Shamir Holdings Ltd. |
| Starburst Tech Companies | 20 Nov 2019 | $22M | not disclosed | Index Ventures |
| Tech Companies | 13 Nov 2019 | $20M | not disclosed | Shasta Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did 1Password raise in its Series A round?
1Password raised $200M in its Series A round, announced in Nov 2019.
Who led 1Password's Series A round?
Accel led it, with Slack Fund.
What was 1Password's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,013 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $8.5M, and this round was 24 times the median.
Did 1Password raise again after this round?
Yes: a Series B round in Jul 2021 of $100M at $2.00B post-money.