A pair of senior technical and go-to-market executives have recently departed Toronto-based 1Password as the technology company continues to reshape its leadership team.
CTO Pedro Canahuati and CRO Julian Teixeira, who had each been with 1Password for more than four years, left the password management software firm this month. Teixeira and Canahuati announced the news through LinkedIn posts.
“It’s the right time, and the right moment, to pass the baton.”
Julian Teixeira
“It’s been an incredibly fun challenge, I learned so much, and I’m really proud of what the team accomplished in my time here,” Canahuati wrote.
“I’m leaving knowing the company is in incredibly capable hands and on a strong path forward,” Teixeira wrote in his own post. “It’s the right time, and the right moment, to pass the baton.”
Both Canahuati and Teixeira indicated that they plan to take some time to reflect before deciding what comes next. BetaKit has reached out to 1Password, Canahuati, and Teixeira for additional comment on why they left and who will be replacing them.
These are not the only C-suite changes that 1Password has made this year. In March, 1Password brought on Greg Henry as chief financial officer, replacing Jeannie De Guzman as she transitioned to chief operating officer. Two months ago, long-time 1Password CEO Jeff Shiner moved to executive chair, handing the reins to then co-CEO David Faugno.
RELATED: Longtime 1Password CEO Jeff Shiner moves to executive chair, hands reins to David Faugno
Founded in 2005 and formally known as AgileBits, 1Password is one of Canada’s most valuable tech companies. It sells identity security and access management software that helps facilitate sign-ins to applications and websites. It counts The Associated Press, Salesforce, and Under Armour among its clients.
Over the years, 1Password has evolved from a consumer-facing password manager to a broader digital security platform for businesses, scaling from a small team to a profitable, 1,400-person business with more than $250 million USD in annual recurring revenue serving millions of consumers and over 165,000 companies.
To fuel its growth, 1Password has raised $920 million USD in total funding to date from a group that includes Accel, Iconiq Growth, Lightspeed Venture Partners, Salesforce Ventures, and Tiger Global, among others. It most recently closed a $620-million Series C round at a $6.8-billion valuation in 2022. 1Password has also made four acquisitions, most recently buying the UK software startup Trelica in January.
The company has focused recently on addressing some of the business security concerns surfaced by the rise of agentic artificial intelligence (AI). Last month, 1Password also struck a partnership with Perplexity to help manage credentials and other sensitive user information on the Silicon Valley-based firm’s AI-native browser.
Faugno—who, like Henry, has helped take other companies public—told The Globe and Mail in March that 1Password was on track for an initial public offering. However, he noted at the time that it is unlikely 1Password takes the plunge before 2026.
When asked in July whether or not this was still the case, a 1Password spokesperson told BetaKit there were “no explicit plans” but that a public offering was “likely in our future.”
Feature image courtesy 1Password.