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Highlights:
- 1Password's latest funding round has made waves as it comes at a time when the COVID-19 pandemic has forced employees to work from their homes since 2020.
- In July 2021, 1Password had raised C$ 100 million, and it was then valued at around C$ 2 billion.
- The Canadian password management firm is in an expansion mode, and 1Password reportedly aims to double its headcount to 570 in 2022.
After raising C$ 620 million in a funding round led by ICONIQ Growth, Canadian password management company 1Password has left potential investors wondering about its stock.
The Toronto-based cybersecurity startup also saw Hollywood celebrities like Robert Downey Jr., Scarlett Johansson, and Ryan Reynolds participating in one of the largest funding rounds in the cybersecurity space.
1Password's latest funding round has made waves as it comes at a time when the COVID-19 pandemic has forced employees to work from their homes since 2020.
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Due to this situation, password management has become essential, and 1Password has reportedly expanded to cater to the needs of companies looking to address data security challenges.
If you are interested in 1Password stock, here are some important things to know:
1Password stock available in the Canadian equities market?
No, 1Password stock is not available in the equities market as it is a private company. Hence, interested investors will have to wait for the company to go public.
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In July 2021, 1Password had raised C$ 100 million, and it was then valued at around C$ 2 billion. After the latest funding round, 1Password's valuation has more than tripled to approximately C$ 6.8 billion.
1Password has not announced its initial public offering (IPO) plans, and nobody knows when the password management firm will go public.
Bottom line
The Canadian password management firm is in an expansion mode, and 1Password reportedly aims to increase the number of employees in 2022.
Starting in 2006, 1Password has come a long way and has grown as one of the largest password management companies.
1Password claims to have millions of customers, and it allows users to store sensitive information in the space provided by the company.
According to the company website, more than 100,000 businesses use 1Password services to keep their information safe.
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