Empowering Partners: 1Password Unveils Its Global Partner Network Program

Sydney Neely It's a new global partner program that just might revolutionize the way your business tackles cybersecurity challenges. In a world where 74% of security breaches involve the human element. Identity Security Company 1Passwords New Program combats password breaches by empowering partners with solutions to balance robust security controls and employee productivity. Joining me to tell us all about it and more is Chief Revenue Officer Julian Teixeira. Julian, Give us some context on 1Password and how it came to be. Julian Teixeira 1Password has become the leader in identity security today. But the idea for the product actually came over 18 years ago. Our founders were working as web consultants and needed a way to keep track of all the different passwords they needed to do their jobs. They thought this was something they'd only spend a few weeks on, but the value prop of the product became clear very quickly after they finished actually building it. When 1Password first started as a consumer app, it quickly expanded to other operating systems and platforms due to consumer demand. In 2018, we launched our business solution also in response to customers who wanted to bring 1Password into the workplace. Fast forward to today. We're nearing 150,000 paying B2B customers that use our enterprise password management product like Salesforce, IBM, Slack, GitLab, just to name a few. In the first half of 2023, we surpassed 250 million in error with B2B revenue growing 50% year over year and now comprising two thirds of our company's total revenue. And so today we're continuing that business momentum with the launch of our new Global Channel partner program. Sydney Neely You mentioned 1Password initially started as a consumer focused business, but you've since launched a business solution and you're seeing strong continued demand for your product in the enterprise sector. What external factors do you think are driving this demand? Julian Teixeira Workplaces have evolved drastically over the last few decades. In the nineties, employees worked from the office on devices and applications that were supplied by their employer.Then in the early 2000, smartphones and the move to the cloud sort of spurred employee productivity, requiring additional security measures like MFA and SSO but this also introduced the threat of shadow I.T. Fast forward to today., workplace flexibility comes in all forms in remote or hybrid work environments, they’ll work on any device and on a laundry list of applications that may not be employer managed. This has amplified the complexity of business security requirements faster than legacy vendors can keep up with. A solution like 1Password has never been more important than it is today. and businesses want to secure every sign in as the authentication and the threat landscape continues to evolve., but they also want to preserve employee productivity regardless of how or where they, you know, their employees want to work. Sydney Neely. Julian, why did you decide to launch your new 1Password partner network program globally right now? Julian Teixeira Three key factors really drove this launch for us. First is really driven by external factors that are just driving demand for 1Password. In a world where hybrid and remote work has become the norm shadow IT has increased rapidly and employees are using personal devices for work and vice versa. So there's heightened demand among businesses of all sizes for a security solution that can balance both security and employee productivity. The second is really around a business tipping point for us. You know, many organizations inevitably reach a point where investing in the channel can help continue to drive upward growth and momentum, and it becomes a necessary component to continuing to grow at scale. The third component for us is really around international growth. We've seen incredible demand from markets outside of North America, including EMEA and APAC. We're sold in over 120 countries today, but we've got markets like Germany and the U.K. that are some of our fastest growing and we think that partners can really help us here. Sydney Neely What sets this program apart from others and what makes it uniquely valuable for partners? Why should they join? Julian Teixeira Unlike many other programs, we're proactively ensuring a seamless sales experience for our partners. We've gone through great lengths to remove any unnecessary channel conflict by ensuring that our direct sales teams are fully compensated to work collaboratively with partners. We're going to be taking a very iterative approach to how we roll out this program, this is a multiyear initiative for us. Our programs are going to include things like training and education for partners as well as enablement. We're going to be launching a partner marketing toolbox to accelerate deal closure through demand generation and sales tools.