This funding round was led by Airbridge Equity Partners, with support from existing investors including Expon Capital’s Digital Tech Fund, ScaleFund, Seeder, Dedicated, Bondi Capital, Carricha Capital, and LBAN. The round also saw backing from industry veterans Christophe Bianco, Co-founder of Excellium Services, and Xavier Buck, Co-founder of Datacenter Luxembourg.
Founded in 2016, Passbolt offers an open-source solution designed for organizations to manage and share passwords, access credentials, and other secrets. The platform serves a diverse range of clients, including government entities, defense agencies, universities, small and medium-sized businesses (SMBs), and startups. With more than 40,000 organizations using its platform, Passbolt has emerged as a go-to option for teams in need of secure collaboration in agile, digital environments.
Passbolt’s primary goal is to address the limitations of traditional password managers and complex enterprise solutions. By providing a platform that supports both small and large organizations, Passbolt enables teams to securely manage access to IT, software development, and security infrastructure. Additionally, the platform simplifies access management by allowing users to automatically log into productivity tools and securely share credentials with colleagues.
The EUR 7.6 million in Series A funding will be allocated to accelerating product development, with the next major release, Passbolt 5.0, being a key milestone. The funds will also support scaling international sales and marketing efforts to reach more customers globally. The company currently has over 2,000 paid customers worldwide and plans to expand its user base further.
Passbolt’s platform is versatile and can manage various types of credentials, including root accounts, SSH keys, API keys, Time-based One-Time Passwords (TOTPs), and multi-factor authentication (MFA) tokens. The platform’s open-source nature allows for unparalleled control and customization, making it adaptable to various organizational needs and regulatory requirements.
Passbolt’s product offerings include a free community edition (Passbolt CE), a commercial enterprise edition (Passbolt Pro), and a SaaS offering (Passbolt Cloud), which can be deployed on the cloud or on-premise. This flexibility ensures that organizations of all sizes can leverage Passbolt to secure and manage their credentials effectively.
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