In its most recent investment round, 1Password raised $620 million

1Password, a password manager, said on Wednesday that it has completed its current fundraising round, gaining $620 million and increasing its value to $6.8 billion.

ICONIQ Growth, Tiger Global, Lightspeed Venture Partners, Backbone Angels, and Accel, which led the Canadian company’s series A and B investments, participated in the Series C fundraising round.

The series C round included Ryan Reynolds, Scarlett Johansson, Robert Downey Jr., Matthew McConaughey, Chris Evans, Rita Wilson, Ashton Kutcher, Trevor Noah, Justin Timberlake, and Pharrell Williams. Robert Iger, the CEO of Disney, and Jeff Weiner, the CEO of LinkedIn, both invested in the startup.

“Our objective has always been to reduce the tension between security and convenience, and 1Password has never had a better chance to do it.” “At 1Password, we design products and solutions that improve on and simply layer into a company’s current security architecture, cultivating healthier habits for workers while boosting a company’s security posture from inside,” stated Jeff Shiner, CEO.

“In this manner, we’ll be able to address the most serious security issues confronting today’s workforce and deliver on our commitment of making the internet a safer place for families and companies all across the globe,” Shiner stated.

The funds will be used to grow 1Password’s platform and extend its capabilities, according to ZDNet. The firm has grown its B2B business presence in the past year, gaining more than 100,000 new clients in the previous 24 months.

In addition, the firm has expanded to 570 people and introduced various additional products, including a password sharing tool and others.

More than one hundred CISOs, CIOs, CTOs, engineers, and IT executives told Will Griffith, a founding partner at ICONIQ Growth, that 1Password’s “overwhelmingly intense enthusiasm for 1Password’s ability to match high security requirements with a fundamental knowledge of how people act” struck him.

1Password protects not just people but also the businesses where they work by making safe online conduct second nature.” Griffith remarked.