![]() Ĭustomer support - when your customers have to wait weeks to get a reply because there are 10,000 emails in the queue. Hope that gives some context to “aggressively”.įeature requests, bug fixes, BugCrowd bounties, SOC2 certification, GDPR requests, pentests, AWS and Google Cloud infrastructure upgrades/monitoring. That to me is already pretty freaking fast but it hasn’t been fast enough to keep up. I can’t help but feel there’s a wonderful and often unexplored middle ground between “die” and “grow and grow aggressively”, but that’s extremely easy for me to say without knowing any details, and nobody likes a backseat CEO!!!! I wish you and the team the best! ♥️įun fact, over the last 14 years we’ve grown log2(174) =~ 7.4, so we’ve been roughly doubling every two years. So $200M for an enterprise sales team and enterprise features to avoid getting squashed by Dropbox metaphors could not be more perfect. File this under “you have to plan the game on the field”. I don’t see the need to freak out for personal users.Īhhh this is important context missing from TechCrunch: Dashlane raised $110M. Makes sense they’d raise to build support and grow enterprise business. They’ve added numerous features broadening the scope of their product beyond password management, including SCIM Bridge and Advanced Protection.ġPassword was a nice business for a long time but it’s biggest competitor lastpass started pushing hard into enterprise, flooding out the “byot” channel. Now, their Enterprise Password Manager (EPM) is used by tens of thousands of businesses (including 40+ in Accel’s portfolio). We’re excited to be investing alongside the Slack Fund, Atlassian co-founders Mike Cannon-Brookes & Scott Farquhar, Atlassian president Jay Simons, and several notable angels.Īt the time of that meeting, they were scaling their consumer-focused product and in the process of releasing a business solution. ![]() But these seem to be differences in philosophy, not consequences of the growth strategy.ġPassword is trusted by millions of users globally, 50,000+ paying business customers, and 25% of the Fortune 100, including leading enterprises such as IBM, Slack, Pagerduty, Dropbox, GitLab and Roche. The app’s basic design and focus on browser extensions are not a good fit for the way I want to use it. New features are being added to the hosted service, which I don’t want to use. But given that decision-and there are certainly benefits to having thoughtfully designed password software in big businesses-the funding and partnership are tools to help them execute that plan.ġPassword has remained a good product, though the parts I care about seem to be on life support. As a consumer, I wish they hadn’t done that. This seems like the wrong time to be asking that question because they’ve already been growing rapidly and pivoting to the enterprise. There’s been a lot of worrying that this is going to hurt the consumer product. It was fun to grow the company ourselves from 2 to 176, but just like when we hired our CEO, we’ve reached a point where we need expertise and guidance from those who’ve made this journey before. We were profitable and didn’t see the value in partnering with someone else. We’ve been turning down Venture Capital firms for as long as they’ve been courting us. I still remember with fondness hiring our first employee, planning our first AGConf, recruiting my friend as CEO, opening our first office, and acquiring our first enterprise customer with over 300,000 employees. It’s been humbling to watch as we’ve crossed one milestone after another. Since then, 1Password has become more successful than we ever dreamed. Along with the investment – their largest initial investment in their 35-year history – Accel brings the experience and expertise we need to grow further and faster. Dave Teare ( tweet, TechCrunch, Hacker News):Īccel will be investing USD$200 million for a minority stake in 1Password.
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