Ryan Reynolds, Robert Downey Jr., Ashton Kutcher and Dozens Others: 1Password Shakes Up Data Security While Attracting a Star-Studded Line-Up of Investors

Toronto-based password manager 1Password has attracted the attention and wallets of some of the biggest names in Tinseltown, who along with venture capital firms have invested $620 million in the company.

Famous investors: “X-Men” and “Avengers” stars are not just saving the world on the big screen. They’re also investing in password security. Ryan Reynolds, Scarlett Johansson, Robert Downey Jr. and Chris Evans are just a few of the celebrities who have thrown their support behind 1Password. Other Hollywood investors include Matthew McConaughey, Rita Wilson, Ashton Kutcher, Trevor Noah, Justin Timberlake and Pharrell Williams.

In addition to the star-studded lineup of investors, it's worth noting that General Motors Co. CEO Mary Barra, LinkedIn Corp. Chairman Jeff Weiner, Tiger Global Management LLC, Lightspeed Venture Partners, Backbone Angels and Salesforce Ventures have also thrown their support behind 1Password. With all this investment, 1Password's valuation soared to $6.8 billion — a Canadian record. 

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Biometric-based passkeys: In a significant move, 1Password recently announced that it will soon support the option to create and unlock 1Password accounts using biometric-based passkey technology. This means that they will be ditching the feature that gave the company its name — passwords.

According to 1Password Chief Product Officer Steve Won, passkeys must be able to replace all passwords, including those used to unlock 1Password, for them to be the way forward. It appears 1Password is committing to this new technology as the future of data security.

This announcement comes after 1Password teased in November that customers will be able to securely log in to apps and websites through its platform using passkeys sometime in early 2023.

1Password is taking a bold step with this move, as passwords have been the backbone of its service for years. But with the rise of biometric-based technology, it's not surprising to see the company pivot in this direction.

The future of security: It seems that 1Password isn't the only one jumping on the passkey bandwagon. Other companies, including rival password manager Dashlane and tech giants like Apple Inc., Alphabet Inc.’s Google, and Microsoft Corp., have launched or announced passkey integrations of their own.

The days of scribbling down a list of your dog's names and your birth year as your go-to password are long gone. With phishing scams and data breaches on the rise, traditional passwords don't cut it anymore. That's why the push for passkey technology has gained so much momentum — it's a more secure way to protect your sensitive data. If you're still clinging to your password123, it might be time to consider upgrading to a more fashionable passkey option. 

1Password has created a directory of websites, apps and services that currently support passkeys, so users can easily check to see where they can start using this new feature. 

See Next: Thanks to changes in federal law, startup investing is no longer exclusively for the rich and wealthy. Now, anyone can invest in top startups on platforms like StartEngine and Wefunder. For example, TruBrain is a startup creating wearable tech and specialized supplement routines for brain health. 

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