I wanted to be the first one to tell you: I’m incredibly proud to announce that we’ve partnered with Accel to help 1Password continue the amazing growth and success we’ve seen over the past 14 years. Accel will be investing USD$200 million for a minority stake in 1Password. 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.
I use 1Password, and I’m deeply skeptical of venture capital investments like these. 1Password has been profitable since its founding, so this investment is not a make-or-break kind of thing, which makes me worried about the future. Password managers require a lot of trust from their users, and trust is not something I give to venture capitalists.