1mylogin offers a freemium cloud-based password manager that provides one-click login by storing and encrypting all passwords with banking-grade security. The consumer product launched early last year and uses a master-password model to enable strong, unique passwords. The company recently soft-launched a business product that adds features such as key phrase–based two-factor authentication, a central admin panel for managing access, and analytics to track password usage. 1mylogin aims to help organisations prevent weak password practices and reuse across multiple sites. The startup has raised approximately $1.5 million to date via a mix of grants and equity financing, including an additional roughly $500,000 announced in the latest seed round. The new funds will be used to market the recently soft-launched business offering. my1login is a password-management service that signs users into websites with one click without requiring browser plug-ins, software installation, or hardware keys. Users create a secure phrase that encrypts their logins in the browser before data is sent and stored, and because the secure phrase is not stored, my1login cannot read users' credentials. The service generates and remembers complex unique passwords for each site, removes the need to type passwords (mitigating key-logger risks), and offers a dashboard aggregating information and messages from email and social networks. It launched at the beginning of last month and is based out of a former autopsy room within the University of Glasgow. Mobile apps for iPhone, iPad and Android are in the pipeline. The startup has implemented a referral-driven upgrade to a 'pro' tier to encourage viral growth. The company has raised $1 million in funding.

Total raised

$2M

Funding rounds

2

Latest round

Seed

Latest activity

Jun 2013