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1Password (AgileBits Inc.)
1Password sells software that stores people's passwords and login details in one encrypted vault, so they only need to remember one master password.
1Password is a password manager. You install it on your phone, laptop, and browser, and it remembers all your logins for you — every website, every app, every credit card number — locked inside one encrypted vault that opens with a single master password. Instead of reusing the same weak password everywhere (or scribbling them on sticky notes), you let the software generate long, unguessable passwords and fill them in automatically.
The company makes money from subscriptions, and it sells to two very different customers. Individuals and families pay a small monthly fee. Businesses pay per employee, and that side has become the bigger prize: when a company signs up, IT departments get tools to control who can see which passwords, enforce rules, and spot leaked credentials. That's why 1Password competes less with free browser password autofill and more with corporate security suites — its real pitch to a business is "stop your employees from getting phished," not just "remember my Netflix password." The company started in 2005 in Toronto, founded by Dave Teare and Roustem Karimov, and stayed deliberately small and bootstrapped for over a decade — profitable, no venture money, a rare thing in software. That changed in 2022, when it raised a $620 million round at a $6.8 billion valuation, its first outside money in 17 years. The cash went into a buying spree: it acquired Passage, a small passwordless-authentication startup, and Kolide, a device-security company that checks whether an employee's laptop is healthy before letting it access company apps. Both moves push 1Password beyond passwords and into the broader "verify who and what is logging in" business.
Its biggest rivals are the password vaults baked into big platforms — Apple and Google give password storage away for free — plus corporate identity players like Okta and Microsoft's Entra. The threat is real: why pay for a vault when your phone already has one? 1Password's answer is that businesses need sharing, auditing, and recovery tools that free consumer vaults don't offer, and that a dedicated security company won't mine your data the way an ad-funded platform might. The vulnerability is the flip side of that story — the free options keep getting good enough to make the paid one a harder sell.
Saved answer · last researched 10 Nov 2026