1Password
1Password aims to build a safer, simpler digital future for everyone by providing human-centric security that protects identities, devices, and applications.
Founding Story
Founded by two friends (Dave Teare and Roustem Karimov) and their spouses in 2005. Originally web consultants, they built 1Password as a tool to manage the numerous passwords they used while creating e-commerce sites for clients.
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Leadership
Founders
Dave Teare
Co-founder of AgileBits. Previously a web consultant and developer at IBM Canada. Started 1Password as a side project to manage client passwords.
Roustem Karimov
Co-founder of AgileBits. Previously a developer at Sony and web consultant. Co-created 1Password with Dave Teare while building e-commerce sites.
Sara Teare
Co-founder of AgileBits. Played a key role in the early development and customer support operations of 1Password.
Natalia Karimov
Co-founder of AgileBits. Involved in the early founding and growth of the company alongside the other co-founders.
Executive Team
David Faugno
Chief Executive Officer (CEO)
Previously CFO and COO at Barracuda Networks, and CFO at Accel-backed companies. Joined 1Password in 2023.
Jeff Shiner
Executive Chairman (Former CEO)
Led the company as CEO for over a decade. Previously held leadership roles at IBM and Rosetta.
Business Model
Revenue Model
Subscription-based SaaS for individuals, families, and businesses.
Pricing Tiers
For individuals; includes Watchtower, Travel Mode, and 1GB storage.
Up to 5 family members; shared vaults and account recovery.
For up to 10 users; admin controls and 24/7 support.
SSO integration, custom roles, and advanced reporting.
Full Extended Access Management, dedicated success manager, and custom setup.
Target Markets
- Consumer
- SME
- Large Enterprise
- Developers
- Managed Service Providers (MSPs)
- Personal password and digital asset security
- Secure credential sharing for families and small teams
- Enterprise access management for unmanaged devices and shadow IT
- DevOps secrets management and secure CI/CD pipelines
- IBM
- Slack
- Canva
- Salesforce
History & Milestones
Reported surpassing $400M ARR; positioning as a trust layer for AI.
Launched Extended Access Management (XAM); Acquired Kolide and Trelica.
Surpassed $250M ARR; Appointed David Faugno as CEO.
Raised $620M Series C at a $6.8B valuation; Acquired Passage.
Raised $100M Series B; Acquired SecretHub and introduced Secrets Automation.
1 AI Tool by 1Password
1Password's Agentic AI Passport provides secure identity and secrets management for AI agents, enabling autonomous systems to authenticate and access resources safely.
