Passbolt Secures $8M Funding to Revolutionize Team Access Management Solutions

Passbolt Secures $8M Funding to Revolutionize Team Access Management Solutions

Passbolt, a leading open-source credential and access management platform, has successfully secured $8 million in its Series A funding round. This investment aims to enhance the platform’s capabilities and expand its user base significantly.

Funding Details and Investors

The funding round was spearheaded by Airbridge Equity Partners, based in the Netherlands, with contributions from various existing investors including:

  • Expon Capital’s Digital Tech Fund
  • ScaleFund
  • Seeder
  • Dedicated
  • Bondi Capital
  • Carricha Capital
  • LBAN

Notable industry figures, such as Christophe Bianco, co-founder of Excellium Services, and Xavier Buck, co-founder of Datacenter Luxembourg, also participated in this funding round.

About Passbolt

Founded in 2016, Passbolt offers an innovative open-source password management solution tailored for technical teams. The platform facilitates secure management and sharing of access credentials across various sectors, including IT, software development, and security infrastructure.

Key Features of Passbolt

  • Streamlined credential management
  • Secure login access for the workforce
  • Collaboration capabilities for agile teams

Future Plans with New Funding

The freshly acquired funds will be utilized to:

  • Accelerate product development
  • Tackle complex security and regulatory challenges
  • Launch Passbolt 5.0, aimed at enhancing capabilities for over 400,000 daily active users
  • Expand international sales and marketing operations

According to Passbolt’s co-founder and CEO, Kevin Muller, the platform addresses the gap between consumer-focused password managers and cumbersome enterprise solutions, catering to the needs of agile teams operating in digital environments.

Growth and Market Demand

Passbolt has witnessed significant growth, onboarding over 40,000 organizations and attracting 2,000 paid customers globally. The company aims to meet the increasing demand for collaborative, enterprise-grade solutions in the password management space.

READ ALSO  Dataminr Secures $85M to Propel AI-Driven Real-Time Intelligence Growth

Previous Funding Rounds

Prior to this Series A round, Passbolt raised $620,000 in pre-seed funding in December 2018 and $3.1 million in a seed round that concluded in January 2021.

Expert Insights

Rick van Boekel, managing partner at Airbridge Equity Partners, stated, “Legacy password managers and Privileged Access Management (PAM) solutions are inadequate for today’s cross-functional and agile teams. Passbolt’s organic traction across various industries confirms the demand for a more collaborative solution.”

For more information on Passbolt’s offerings, visit their official site at passbolt.com.

Similar Posts

OneVest Raises $20M Series B to Revolutionize Wealth Management in WealthTech Sector

OneVest Raises $20M Series B to Revolutionize Wealth Management in WealthTech Sector

Bysupport

WealthTech company OneVest has raised $20 million in a Series B funding round led by Salesforce Ventures, with participation from Allianz Life Ventures, TIAA Ventures, and returning investors like OMERS Ventures and Deloitte Ventures. The funding will enhance OneVest’s modular wealth management platform, designed for financial institutions to modernize their services. Key features include end-to-end solutions, reduced vendor reliance, and hybrid experiences for investors. The new capital will also focus on improving AI capabilities, expanding alternative investment offerings, and diversifying client portfolios. CEO Amar Ahluwalia highlighted the importance of this funding for tackling industry challenges through innovation.

Allara Secures $26M Funding to Revolutionize Women's Hormone Telehealth Services

Allara Secures $26M Funding to Revolutionize Women’s Hormone Telehealth Services

Bysupport

Rachel Blank’s perspective on women’s healthcare changed when she was diagnosed with polycystic ovary syndrome (PCOS) at 21, revealing significant disparities in treatment options. Motivated by her experience, she founded Allara, a telehealth platform for women with hormonal conditions like PCOS and endometriosis. Allara has gained popularity, particularly among younger women, and saw a 400% revenue increase in 2024, raising $26 million in Series B funding. Originally a subscription service, Allara now partners with major insurers, expanding coverage to 10 states. This model not only serves patients but also provides accessibility for healthcare providers, fostering long-term relationships with patients.

Klearly Secures €6M Seed Funding to Revolutionize In-Person Payment Solutions

Klearly Secures €6M Seed Funding to Revolutionize In-Person Payment Solutions

Bysupport

Klearly, a company focused on enhancing in-person payment solutions, has raised €6 million in a seed funding round led by Global PayTech Ventures, with participation from Antler Elevate and notable angel investors. The funds will aid in expanding their innovative payment technology for small and medium-sized businesses (SMBs) across Europe. Klearly aims to replace outdated payment systems with data-driven solutions compatible with devices like smartphones and modern terminals. Their flagship product, Tap to Pay, allows secure transactions on everyday devices. With over 4,000 merchants onboarded and a projected 500% increase in payment volume for 2024, Klearly is poised for significant growth.

Boost Your Checkout Experience: Skipify and Retail Realm Join Forces for Identity-Powered Payment Solutions

Boost Your Checkout Experience: Skipify and Retail Realm Join Forces for Identity-Powered Payment Solutions

Bysupport

Skipify, a FinTech leader in checkout enhancement, has partnered with Retail Realm, a global retail solutions provider and Microsoft ISV. This collaboration allows Retail Realm’s 50,000 merchants to integrate Skipify’s Commerce Identity Cloud, introducing a pay-by-link feature that enables customers to complete transactions via SMS or email, improving satisfaction. The integration automates shopper identification, removes manual card entry, and connects with major card networks, leading to a 6% increase in approval rates, 9% boost in conversion rates, and 12% rise in repurchase rates. Both companies aim to simplify payments and enhance customer experience in retail.

CYFIRMA Boosts Southeast Asia's Cybersecurity with Strategic Investment from MDI Ventures

CYFIRMA Boosts Southeast Asia’s Cybersecurity with Strategic Investment from MDI Ventures

Bysupport

CYFIRMA, a Singapore-based cybersecurity firm, has secured a significant investment from MDI Ventures, the venture capital arm of PT Telekomunikasi Indonesia Tbk. This partnership aims to accelerate CYFIRMA’s growth in Southeast Asia, particularly in Indonesia, enhancing its global market presence. The funding will bolster CYFIRMA’s research and development, enabling it to expand its cybersecurity solutions and improve digital risk protection services. CYFIRMA focuses on delivering early warnings of cyber threats and proactive risk mitigation. Leaders from both companies emphasize the importance of this investment for addressing the evolving cyber threat landscape in Southeast Asia.

Boosting Employee Trust and Engagement Through ESG: The Key Role of Environmental, Social, and Governance Practices

Boosting Employee Trust and Engagement Through ESG: The Key Role of Environmental, Social, and Governance Practices

Bysupport

The importance of Environmental, Social, and Governance (ESG) principles has grown, especially among Millennials and Gen Z, influencing their employment choices. A Position Green study shows a significant portion of the workforce favors companies with strong sustainability practices. An IBM survey indicates that 67% prefer applying to organizations with environmental initiatives, while nearly 90% of executives recognize the link between purpose and employee satisfaction. Transparency in ESG goals fosters trust and engagement, enhancing workplace culture. Companies can improve brand perception and attract talent by effectively communicating their ESG commitments and implementing measurable goals and employee involvement in sustainability efforts.