1Password announced on January 19, 2022, that it had closed a $620 million Series C financing led by ICONIQ Growth, valuing the company at $6.8 billion. That figure is the valuation announced with the 2022 round—not a verified current valuation.
What 1Password announced
The company said the Series C raised $620 million and valued 1Password at $6.8 billion. CEO Jeff Shiner described the financing as support for developing and scaling security products intended to help people protect sensitive information in both their work and personal lives. Those were the company’s stated plans, not measured outcomes of the investment.
1Password also characterized the round as the largest raised by a Canadian company at that time. That is a claim about the context of the January 2022 announcement, not a statement that the round remains a record.
Who invested in the round?
ICONIQ Growth led the financing. 1Password named Tiger Global, Lightspeed Venture Partners, Backbone Angels, Accel, Salesforce Ventures, and Slack Fund among the participating investors.
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#1 Best Overall
- POWERFUL SECURITY KEY: The Security Key C NFC is the essential physical passkey for protecting your digital life from phishing attacks. It ensures only you can access your accounts.
- WORKS WITH 1000+ ACCOUNTS: Compatible with Google, Microsoft, and Apple. A single Security Key C NFC secures 100 of your favorite accounts, including email, password managers, and more.
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Is $6.8 billion 1Password’s current valuation?
The $6.8 billion figure is the valuation 1Password announced alongside its Series C in January 2022. The company’s current pages describe its products and business, but do not establish a present valuation. The sources cited here also do not establish a later financing or valuation, so the 2022 figure should not be treated as current.
How the funding fits the company’s product direction
Today, 1Password describes itself as an identity-security company serving people and AI agents. Its enterprise offering, called Unified Access, brings together Enterprise Password Manager, Device Trust, SaaS Manager, and Privileged Access, according to the company’s current company materials and enterprise page. These are current product descriptions and should be distinguished from the plans stated in the 2022 funding announcement.
Rank #2
- PHISHING-RESISTANT 2FA: Cryptographically binds to real domains, making phishing attacks impossible unlike SMS codes or authenticator apps.
- 3-SIDE CAPACITIVE TOUCH: Tap the end, left, or right side to authenticate, so it works in any orientation or crowded USB port.
- MULTI-COLOR LED INDICATOR: Blue means ready, blinking blue means tap now, green means success, and red means error for instant status feedback.
- IP68 WATERPROOF & BATTERY-FREE: Crush-resistant one-piece construction survives daily carry on a keychain or in a bag for years without any batteries.
- UNIVERSAL COMPATIBILITY: Works with Google, Microsoft, Apple, GitHub, AWS, and any FIDO2 / U2F / WebAuthn service, storing up to 100 passkeys.
For technical details, 1Password’s support documentation says its security model uses PBKDF2-HMAC-SHA256 for key derivation. That is the company’s own documentation, not an independent security assessment: 1Password security documentation.
Quick Recap
Best Value
- Security Key : Protect your online accounts against unauthorized access by using FIDO2 and U2F authentication with T110. It's the world's most protective security key that works with windows, Mac OS, Linux as well as Chrome, Firefox, Edge and many other major browsers.
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- For the driver download and user guide, please visit TrustKey Solutions Home support page.
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- Ultra-Compact FIDO2 Security Key - Plug-and-stay or carry on a keychain. This USB-A hardware security key offers portable, always-on protection for desktop and mobile use. (Item Size: 0.75 X 0.74 IN x 0.25 IN)
- USB-A Hardware Key for All Devices - Works with USB-A ports on PC, Mac, Android, and other laptop/notebook device. Enables secure, cross-platform login with FIDO2.0 passkey support.
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Rank #3
- USB-C or tap via NFC for easy authentication on any compatible device. No drivers needed; optional Kensington software available for advanced management features.
- Works across Windows, macOS, iOS, Android, ChromeOS, and supports Passkeys and Apple ID.
- Slim, keychain-ready form for easy carry and on-the-go authentication
- IP68-rated for dependable performance
- FIDO CTAP 2.1 for enhanced security features (e.g. resident credentials, Passkey support) and backwards compatibility with CTAP 2. FIDO2 L2 certified security for phishing resistant protection against identity theft and unauthorized access.
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