1Password Acquires Kolide to Strengthen Endpoint Security
(techcrunch.com)
from Squire1039@lemm.ee to technology@lemmy.world on 21 Feb 2024 05:19
https://lemm.ee/post/24393871
from Squire1039@lemm.ee to technology@lemmy.world on 21 Feb 2024 05:19
https://lemm.ee/post/24393871
Key Points:
- 1Password, a password management software company, has acquired Kolide, an endpoint security platform.
- This move expands 1Password’s security offerings beyond passwords, addressing the challenges of securing devices in a hybrid work environment.
- Kolide’s platform uses real-time device health checks to grant or block access to company applications, preventing unauthorized access attempts.
- The acquisition strengthens 1Password’s position in the growing endpoint security market
- This is 1Password’s third acquisition in recent years
Additional Details:
- Kolide boasts customers like Databricks, Robinhood, and Discord.
- This acquisition follows 1Password’s successful 2023, exceeding $250 million in annual recurring revenue and a multibillion-dollar valuation.
- 1Password plans to add 250 jobs this year
“1Password has focused on giving businesses the tools they need to make it easy for employees to keep their passwords secure,” Shiner added. “Kolide extends this ability further to make it easy for employees to keep their devices secure.
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This is the best summary I could come up with:
1Password, the AgileBits-owned password management software developer, today announced that it has acquired Kolide, an endpoint security platform, for an undisclosed amount.
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 is built on the principle that end users, when honestly informed and motivated, are perhaps the most effective resource that security-focused organizations will ever have against the world’s most nuanced and devastating security threats,” Meller told TechCrunch via email.
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.
Facing headwinds in a weak cybersecurity market, 1Password has bucked the trend — raising hundreds of millions of venture dollars at a multibillion-dollar valuation.
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