On January 19, 2022, 1Password announced it had closed its US$620 million Series C financing round led by Iconiq Growth, with participation from Tiger Global, Lightspeed Venture Partners, Backbone Angels and Accel. 1Password will use its newly raised funds to drive continued growth and plans to increase its customer support teams, as well as finance more acquisitions. This deal will break the record for the largest venture funding in Canadian history and has raised the company’s valuation to $6.8 billion.
1Password is a password management platform that allows users to store various passwords, software licenses, and other sensitive information.
Osler, Hoskin & Harcourt LLP advised Tiger Global with a team consisting of Chad Bayne and Gary Marshall (Emerging & High Growth Companies).