1Password enhances its endpoint security offerings through Kolide acquisition
1Password, the password management software developer owned by AgileBits, has announced its acquisition of Kolide, an endpoint security platform. The terms of the acquisition were not disclosed. Jason Meller, founder and CEO of Kolide, along with all 30 employees, will join 1Password as a unified team. Meller has assumed the role of VP of product at 1Password.
Jeff Shiner, CEO of 1Password, emphasized the significance of the acquisition amidst the shift towards hybrid work environments, where employees utilize various personal and work devices. He highlighted Kolide’s unique device security and contextual access management solution, which evaluates device health in real-time before granting access to company applications.
Kolide, headquartered in Boston, Massachusetts, operates within the rapidly expanding global endpoint cybersecurity sector, expected to reach $23 billion by 2027. Its platform provides security-related endpoint alerts and remediation via Slack, offering features like security issue context, self-remediation steps, and a personalized privacy center, all based on the open-source Osquery project.
Notably, Kolide’s customer base includes prominent companies like Databricks, Robinhood, Discord, and Anduril, with previous funding totaling $26.6 million from investors like OpenView and Matrix.
Meller highlighted the shared values between Kolide and 1Password, noting 1Password’s resources to expand end-user-focused security solutions globally.
This acquisition marks 1Password’s third acquisition, following the acquisitions of SecretHub and Passage. With a thriving financial performance, including over $250 million in annual recurring revenue and a client base exceeding 100,000 organizations, 1Password anticipates adding 250 jobs in the current year. Shiner underscored the synergy between 1Password’s password security solutions and Kolide’s device security capabilities, aiming to streamline access management in the evolving hybrid work environment.
