Canadian startup 1Password raises $100 mln, valued at $2 bln

NEW DELHI: 1Password, a Canadian security and privacy tech startup, said on Tuesday it raised $100 million in a round led by Silicon Valley venture capital firm Accel, valuing the company at $2 billion.

The latest investment in the cyber security firm comes as the pandemic and remote work have given rise to more hacks and a bigger need to keep companies and consumers safe.

1Password initially started as a consumer app 15 years ago, said CEO Jeff Shiner. But five years ago it expanded to serve the fast-growing corporate market, where companies face increasing challenges.