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X-Men, Avengers assemble to invest record US$620 million in Toronto's 1Password

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TORONTO — A slew of celebrities and venture capital firms have thrown their support behind 1Password with a US$620-million investment the company says is a new Canadian record.

The Toronto-based password manager says its Series C round has attracted funds from X-Men and Avengers stars Ryan Reynolds, Scarlett Johansson, Robert Downey Jr. and Chris Evans.

Rounding out the pack of 1Password's celebrity investors are Matthew McConaughey, Rita Wilson, Ashton Kutcher, Trevor Noah, Justin Timberlake and Pharrell Williams.

1Password says the investment is the largest round raised by a Canadian company and pushes its valuation up to US$6.8 billion.

Joining the stars with investments in 1Password are Tiger Global, Lightspeed Venture Partners, Backbone Angels, and Salesforce Ventures.

1Password says it will use the money to develop and scale more security solutions that helps protect people's most sensitive data and information.

This report by The Canadian Press was first published Jan. 19, 2022.

The Canadian Press