1Password, a global leader in identity security, announced that it has surpassed $400 million in annual recurring revenue (ARR) while maintaining positive free cash flow. In tandem with this achievement, the company has expanded its executive leadership team with the appointments of Michael Hughes as President and John Torrey as Chief Business Officer, underscoring its focus on accelerating global growth and defining the next era of identity security in the age of agentic AI.

More than 75% of 1Password’s revenue now originates from enterprise customers, as organizations increasingly turn to the platform to unify identity, access, and governance across SaaS platforms, devices, and AI agents. Today, 1Password protects over 1.3 billion human and machine credentials and supports a thriving community of more than 1 million developers worldwide. The company now serves 180,000 businesses, including over 30% of the Fortune 100 and more than two-thirds of the Forbes AI 50.

Among its high-profile customers are Associated Press, Canva, Cresta, Decagon, HackerOne, Harvard University, Hugging Face, IBM, Midjourney, MongoDB, Open Evidence, Perplexity, Runway, Salesforce, SandboxAQ, Slack, and Stripe.

This growth is further reflected in a gross retention rate above 90% and a 70% compound annual growth rate over the past three years among customers spending over $100,000 ARR, alongside the addition of several seven-figure enterprise accounts in the past year.

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Driving Secure AI Adoption Through Identity and Governance

“AI has become a core part of how work gets done, from automating support to analyzing financial data,” said David Faugno, CEO of 1Password. “But many of these systems operate with broad access and little oversight. Without clear proof of who authorized an agent or what it’s permitted to do, organizations take on hidden risk. 1Password brings identity, access, and governance together for both people and AI agents, giving companies a verifiable foundation for automation. As AI becomes woven into every workflow, we’re building the trust layer that keeps it secure and accountable.”

1Password’s vision extends beyond password management—it aims to create a trust layer for AI-driven environments. This approach ensures that every credential, key, and access token used by humans or AI systems is secure, traceable, and auditable. Organizations gain confidence that automated tools act within approved boundaries, and administrators retain the power to review or revoke access as needed.

Expanding the Leadership Team for Strategic Growth

The appointments of Michael Hughes and John Torrey mark a strategic expansion of 1Password’s leadership team.

As President, Hughes will oversee global operations spanning sales, customer experience, and revenue enablement, bringing proven experience from his leadership roles at ChargePoint and Barracuda Networks, where he drove scalable commercial growth and operational excellence.

As Chief Business Officer, Torrey will spearhead M&A, partnerships, and ecosystem expansion, leveraging decades of executive experience at Qualtrics, Concur, and SAP, where he played key roles in driving transformational growth.

They join an accomplished executive team that includes Greg Henry (CFO), Abe Ankumah (Chief Product Officer), Nancy Wang (SVP of Engineering), and Jacob DePriest (CISO & CIO)—leaders united by a shared focus on innovation, operational discipline, and long-term growth strategy.

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Innovations Anchored in AI Security and Developer Enablement

As artificial intelligence becomes deeply embedded in everyday workflows—powering code generation, customer support, and analytics—1Password is evolving to meet these new security challenges head-on.

Recent innovations include:

Secure Agentic Autofill (developed in collaboration with Browserbase): Enables AI agents to access credentials securely within browser environments.

Perplexity Comet Integration: The first AI-native browser to support 1Password, ensuring seamless and secure credential handling for AI workflows.

Secrets Syncing with AWS Secrets Manager and Environments: A developer-focused enhancement designed to maintain consistent and protected credentials across local and cloud environments.

These updates build on the company’s flagship Enterprise Password Manager, extending its capabilities to the fast-growing ecosystem of AI agents and tools transforming the modern workplace.

Building Trust and Security Across AI Workflows

Security experts from several leading AI-driven companies underscored the importance of 1Password’s role in enabling trustworthy automation.

“With Comet, security and trust are essential,” said Kyle Polley, Security Staff at Perplexity. “We chose 1Password as a launch partner because they make security effortless and are grounded in privacy, transparency, and trust—ensuring secrets stay secret and users stay in control.”

“Managing secrets across fast-evolving development environments is a real challenge,” added Travis McPeak, Security Lead at Cursor (Anysphere). “1Password provides the visibility and control developers need to make security a seamless part of their process.”

Ben Draffin, Director of Security at Decagon, echoed similar sentiments: “Our engineering teams build AI systems for some of the world’s most important companies, and securing credentials is mission-critical. 1Password gives us centralized control over shared vaults and secrets, allowing us to scale rapidly and securely.”

Pioneering the Future of Identity Security

With its growing enterprise footprint, innovative AI integrations, and strengthened leadership team, 1Password is redefining identity security for a future where human and machine collaboration drives business outcomes. As organizations embrace automation and agentic AI, 1Password’s unified platform is poised to serve as the trust foundation for secure and accountable digital operations worldwide.

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