Toronto startup now worth $6.8B is hiring hundreds of people
What do Justin Timberlake, Matthew McConaughey, Scarlett Johansson, Rita Wilson, Pharrell Williams, Robert Downey Jr., Trevor Noah, Chris Evans and Ryan Reynolds all have in common (aside from being, you know, rich and famous)?
They've all just invested cash into one of Toronto's most successful homegrown tech companies through a $774 million round of Series C funding — the largest amount ever for a Canadian company.
The company in question is 1Password, a Toronto-based password management company that, as of today, is worth a staggering $8.4 billion CAD.
"As our online lives become subject to new and evolving threats, we're doubling down on protecting the digital privacy and peace of mind of everyday people — at home and at work," announced the firm's CEO, Jeff Shiner, in a blog post published Wednesday.
"I'm delighted to announce that 1Password has raised (USD) $620 million in our latest investment round that values our company at (USD) $6.8 billion. This moment represents a lot of hard work by a lot of amazing people."
Shiner goes on to reflect upon everything that his teams have accomplished over the past 17 years in building one of the most popular password management and online security services in the world.
Congrats to @1Password on their monster round!
— Kyle Harrison (@kwharrison13) January 19, 2022
Some great brand firms leading this round. But I spot some renegades in there too 🙃
Celebrities and Execs with their own unique brands, all changing the game! pic.twitter.com/fbJGOH1koi
"It feels like yesterday that I was excited to cross the 100-employee threshold, yet here we are just a few years later approaching 600," writes Shiner in the post— and apparently that number is about to go way up.
Reuters reports that the company expects to double its current headcount of about 570 employees over the next year as it "looks to further capitalize on growing cybersecurity needs."
You can see the remote and Toronto-based openings available at 1Password here, but there will likely be many more posted in the future based on how quickly the company intends to scale and how much more flush with funds it just became.
