1Password combines industry-leading security with award-winning design to bring user-friendly password management to everyone. Founded by two friends in 2005, 1Password is now trusted by more than 50,000 businesses and millions of people worldwide to secure their data. Below is our recent interview with Matt Davey, COO of 1Password:
Q: What makes 1Password different to similar companies?
A: Our relentless focus on user experience is what sets us apart. People naturally take the path of least resistance; if a password manager is difficult to use, people just won’t use it. 1Password makes security convenient, and once it’s part of your workflow makes signing into websites, filling out forms, and making purchases online quicker and easier.
Defending our customers’ right to privacy is also a top priority and informs every decision we make. There’s no tracking or analytics in our apps, and we never profile or retarget customers. We can’t see what people store in 1Password or the websites they visit.
Q: Why is now the time for a technology solution like 1Password?
A: Breaches are becoming alarmingly common and increasingly costly. With 80% of company breaches traced back to compromised and weak credentials, businesses must prioritize finding solutions to protect their data. For as long as we use passwords, a password manager is a necessity. And I don’t see that changing any time soon.
While some companies may be looking to move towards passwordless authentication like biometrics and SSO, these methods carry their own security risks. If a fingerprint is leaked, it’s very difficult to change your finger. SSO is expensive to roll out and isn’t available everywhere. Layering these methods on top of using a password manager is the best approach.
Q: How do you protect your customers from breaches and other threats?
A: The main cause of data breaches is human error. 1Password protects against password reuse and other poor password habits by making it easy for employees to use strong, unique passwords for every account. It’s also an end-to-end encryption system, providing a secure way to share sensitive information with other team members.
Another important step in minimizing the risk of a breach is careful management of who can access passwords and other important information. Fine-grained permissions in 1Password give you full control who has access to what, and makes it easy to restrict access to anything you need to keep private.
Q: I read something about your partnership with Accel, how did that start and where do you see the relationship going?
A: It all started over 6 years ago. We’ve been turning down Venture Capital firms for as long as they’ve been courting us. As we’ve always been profitable and growing at a steady pace, we didn’t see the value initially. However, now we’ve grown to a 176-strong team, we’re at the point where we need outside guidance and expertise to help facilitate that growth, so that we can continue to make 1Password even better.
We watched Accel partner with similar sustainable, founder-led companies, and saw how they helped them to grow. For years we wanted the benefit of having an outside perspective without having to compromise on our values, and we’re thrilled to finally get it.
Q: What does the future hold? Where is the company headed?
A: We have a whole list of things we want to do to make 1Password the best it can be, and Accel will help us get there faster. We rarely talk about future plans, but we do plan on growing the team to help with things like supporting our customers.