Toronto-based cybersecurity firm 1Password has raised US$100 million in a secondary sale, including a US$75 million stake sold by its founders to Halo Fund, co-founded by Ryan Smith, owner of the Utah Jazz and NHL’s Utah Mammoth, and Accel partner Ryan Sweeney. Other investors include Flume Ventures.
CEO David Faugno said the transaction provides “founder liquidity” while keeping the company’s IPO plans intact. 1Password, valued at over US$6.8 billion in its last funding round, was preparing to go public in 2024 but has opted for secondary share sales amid a sluggish market. Former CEO Jeff Shiner now serves as executive chair.
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