🔎 Spotlight #4: Inside 1Password
Toronto’s quietly powerful unicorn making password pain a thing of the past.
The story behind 1Password
Long before password managers were mainstream (and necessary), 1Password was quietly building one of the most trusted security tools in the world. Founded in 2005 by Dave Teare and Roustem Karimov, the company began as a simple Mac browser extension that solved a personal frustration: how to keep passwords secure without reusing the same one everywhere.
That side project quickly snowballed. With a focus on user-friendly design and privacy, 1Password built a loyal following and scaled from a small bootstrapped team into one of Canada’s biggest tech success stories. Nearly two decades later, they remain proudly Toronto-based and trusted by millions.
Funding and team at a glance
Raised over $920 million USD in total funding
Most recently closed a $620 million Series C at a $6.8 billion valuation in early 2022
Backed by investors like Accel, ICONIQ Growth, Lightspeed Venture Partners, Salesforce Ventures, and Tiger Global
More than 900 employees across Canada, the US, and remote worldwide
Trusted by over 100,000 businesses, including IBM, Slack, Shopify, and GitLab
Website: 1password.com
The competitive landscape and how 1Password stands out
The password manager space includes well-known names like LastPass, Dashlane, Bitwarden, and Keeper. Each has carved out its own lane. Dashlane, for example, has strong UX and is what I use personally for day-to-day life because I like the clean, intuitive interface. At first I didn’t really know why the hell I was paying for a password manager, but after it exposed me to the fact that I had so many repeated passwords across different websites (and even exposing passwords that got leaked in data breaches), I knew I needed a tool like this to survive this digital age.
That said, 1Password has created a strong reputation by combining enterprise-level security with a friendly, simple user experience. It works well for individuals and is especially valuable for teams and companies looking to manage access, protect credentials, and stay compliant. The platform has expanded beyond password storage into areas like developer secrets management and passwordless login flows.
IPO buzz and what's next
1Password has been making quiet but deliberate moves toward a future IPO. While leadership has said a public offering likely won’t happen in 2025, the company is already operating with the structure and discipline of a public-ready business. Their current focus is on continuing to grow efficiently, expand their enterprise offering, and sharpen product-market fit. From excerpts and conversations with CEO, David Faugno, it seems they’re still super adamant on bringing 1Password to the markets.
With its scale, strong brand, and presence in both consumer and enterprise markets, 1Password is widely viewed as one of Canada’s most IPO-ready tech companies. When the time comes, their debut could be a milestone moment for the country’s software scene.
Building trust at scale
1Password balances usability with robust security. The experience across devices is seamless, autofill is reliable, and the onboarding experience is smooth for both technical and non-technical users. It’s the kind of tool that works in the background without getting in your way.
For IT and InfoSec teams, it offers scalability and smart permissioning without introducing complexity. That’s a big part of why it has seen adoption at major companies and continues to grow its enterprise footprint.
Why this company and these roles stand out
1Password is one of Canada’s standout tech companies. They’ve grown deliberately, built strong customer trust, and continuously shipped thoughtful products in a space that is often overlooked but deeply important.
If you’re interested in security, developer tooling, or B2B SaaS, this is a company where you can do meaningful work and be part of a mission that impacts both individuals and teams every day.
🧭 1Password Roles — Now Hiring
These are the roles at 1Password that stood out to me this week. They’re always growing, so keep an eye out for more in my Tuesday drops.
That’s a wrap on Spotlight #4
If you made it this far, thank you for reading. I hope these spotlights help you discover companies worth your time — and make the job hunt feel just a little bit less overwhelming. Keep an eye out for next Tuesday’s LaunchPad job drop, and if you know someone looking to break into tech or level up, feel free to share this with them too.
Here’s to building something cool — or better yet, joining something cool. 🚀
