Passbolt funding news – Luxembourg-based Passbolt Secures $8M in Series A Round Funding

They're also honored to have since the beginning industry veterans Xavier Buck (co-founder of Datacenter Luxembourg) and Christophe Bianco (co-founder of Excellium Services).

Read also - VitVio funding news – London-based VitVio has Secured €1.8 Million in Pre-Seed Funding

This funding will accelerate their mission of empowering millions of digital teams in collaborating securely with their passwords, accesses and secrets. Passbolt has been operating from a stable financial foundation and was already financially profitable prior to the round.

This investment will enable them to grow their team, fast-track the delivery of new features for both their free community edition and paid offering, while staying committed to building a world-class open source product.

Rick van Boekel, managing partner at Airbridge Equity Partners (Netherlands) said, “Traditional password managers and Privileged Access Management (PAM) solutions fall short for today's cross-functional, distributed and agile teams, Passbolt’s organic traction across various industries confirms the demand for a more collaborative, enterprise-grade solution, and their impressive SaaS metrics prove that passbolt users are delighted with the solution offered.”

What started as a vision for a more secure and collaborative way to manage credentials has grown into a comprehensive platform trusted by over 40,000 organizations worldwide including governments, defense agencies, universities, SMBs, startups and many more.

With 7,000+ downloads per month and close to half a million of daily active users, they're seeing firsthand how critical secure password and access collaboration has become for teams of all sizes.

Passbolt’s private key architecture, used since its inception for authentication and encryption, has since become the de-facto standard for some of the most privacy-focused solutions worldwide, including blockchain systems, crypto wallets and passkeys.

It is truly inspiring to see that teams that started using passbolt a few years ago with only a handful of users have expanded into thousands inside the same organization.

They are both honored and humbled by the trust their users and customers are putting in Passbolt, and at the same time they are taking their responsibility very seriously. Being able to deliver the same quality of service at this scale requires them to grow their team, this is why they decided to raise a Series A despite being already profitable.

About Passbolt

Founded by Kevin Muller, Cédric Alfonsi and Remy Bertot, Passbolt is an open-source credential platform for modern teams. It helps technical teams work together to manage privileged access to IT, software, and security systems using detailed permissions and good practices like the PoLP (Principle of Least Privilege) and JIT (Just-In-Time) access, which allows instant revocation. It also ensures the broader workforce uses strong and unique passwords, integrated with the tools they already use.