1Password expands its endpoint security offerings with Kolide acquisition
Reading Time: 2 minutes1Password, the AgileBits-owned password management software developer, today announced that it has acquired Kolide, an endpoint security platform, for an undisclosed amount.
According to 1Password CEO Jeff Shiner, Kolide founder and CEO Jason Meller and all of Kolide’s 30 employees will join 1Password ‘as an intact team.’ Meller has taken on the role of VP of product at 1Password.
Boston, Massachusetts-based Kolide occupies the fast-growing global endpoint cybersecurity sector, which is projected to reach $23 billion in value by 2027. Competitors span Huntress, Automox and Uptycs, the last of which is particularly well-financed.
Kolide’s platform, which Meller co-launched in 2016 with Mike Arpaia and Zach Wasserman, offers security-related endpoint alerts, remediation and more delivered via Slack. Customers and their employees get features like security issue context, self-remediation steps for Mac, Windows and Linux devices and a personalized privacy center, all built on the open source and Facebook-led universal endpoint agent project Osquery.
Kolide attempts to prevent unknown endpoint devices from accessing corporate apps. When the platform detects a ‘risky’ device trying to access a company’s network, it blocks the attempt, then recommends steps to the device’s user to restore the device to a ‘trusted state.’
Kolide’s customer base of over 250 included 1Password at one point (probably uncoincidentally), as well as Databricks, Robinhood, Discord and Anduril. Prior to the acquisition, Kolide managed to pull in $26.6 million in venture capital from OpenView, Matrix and other VCs and angels.
Kolide is 1Password’s third acquisition after SecretHub, a Dutch cybersecurity company, and Passage, a Texas-based passkey tool provider — and comes at a prosperous moment in the firm’s history.
As of last September, 1Password was recording north of $250 million in annual recurring revenue with a client base of over 100,000 organizations. Facing headwinds in a weak cybersecurity market, 1Password has bucked the trend — raising hundreds of millions of venture dollars at a multi-billion-dollar valuation.
Shiner says that the company expects to add 250 jobs this year.
Ref: techcrunch
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