An identity security vendor backed by a raft of Hollywood stars has surpassed $400m annual recurring revenue.
1Password counts Matthew McConaughey, Ryan Reynolds and Scarlett Johansson among its celebrity investors.
On Friday, the Toronto-based outfit announced it has broken the $400m ARR barrier, with more than 75% of revenue generated from its 180,000 business customers.
It works via distributors including Ingram Micro, TD Synnex, Pax8 and Westcon-Comstor, inking a pan-European pact with the latter in September.
Identity intrigue
Identity security has moved into the spotlight in 2025 thanks to Palo Alto Networks’ planned acquisition of CyberArk.
Sophos’ CEO Joe Levy recently told IT Channel Oxygen he agrees with the contention that “identity is the new perimeter”.
1Password claims to have introduced a new way to manage the risk posed by AI agents, which it claims often have the same access as employees without the same visibility or oversight.
Its “trust layer for AI” is designed to keep every password, key, and credential secure and traceable, whether used by a person or an AI system.
“As AI becomes woven into every workflow, we’re building the trust layer that keeps it secure and accountable,” 1Password CEO David Faugno stated.
“Significant inflexion point”
1Password is mulling a possible IPO in 2026 or 2027 but isn’t “rushing out to go public”, Faugno told CNBC.
Its last round of funding – in 2022 – was for $620m and valued it at $6.8bn.
Customers include Associated Press, Canva, IBM and Salesforce.
“We believe we’re at a pretty significant inflection point in our journey,” Faugno told CNBC. “We’re set up for this next wave of disruption, which I think is an even bigger opportunity for us.”
The vendor also used Friday’s announcement to unveil former Barracuda Networks CEO Michael Hughes as its President.
1Password inked an EMEA distribution agreement with Westcon-Comstor in September. Over a third of its B2B customers are based in EMEA, the distributor said at the time.
Justin Timberlake, Trevor Noah and CrowdStrike CEO George Kurtz are among the other high-profile figures known to have invested in the company.
