The people
What they build
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Working at 1Password
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About
1Password began in 2005 as a weekend project by Dave Teare and Roustem Karimov, two web developers tired of typing credentials into the sites they were testing. The four founders — Dave and Sara Teare, Roustem and Natalia Karimov — owned the company outright and ran it profitably for 14 years. Jeff Shiner joined as CEO in 2012 at 20 people. The pivotal call came in 2014: with about 40 bootstrapped staff, they rebuilt the consumer app on top of a new SaaS layer to go after businesses, an 18-month bet Shiner described on the TechTO stage in August 2026 as terrifying and correct — more than three quarters of revenue is B2B today. Outside capital arrived in 2019 and again in 2022, a US$620M Series C at a $6.8B valuation that drew celebrity investors including Ryan Reynolds. Shiner handed the CEO role to David Faugno in July 2025 and became executive chair.
Backers
Accel, ICONIQ Growth, Lightspeed, Salesforce Ventures, Tiger Global · US$920M raised
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Quick answers
Who founded 1Password?
Dave and Sara Teare and Roustem and Natalia Karimov, in Toronto in 2005, under the corporate name AgileBits. Jeff Shiner joined as CEO in 2012 and is now executive chair.
Is 1Password bootstrapped?
It was, for 14 years. The first institutional round — US$200M led by Accel — closed in 2019; a US$620M Series C followed in 2022 at a $6.8B valuation.
Why did 1Password go B2B?
Shiner made the call in 2014, when the company was consumer-only and about 40 people. They rebuilt the app on a new SaaS layer over roughly 18 months; B2B is now more than three quarters of revenue.