Passbolt, a Luxembourg-based credential and access manager for organizations of all sizes, raised $8M in Series A funding.
The round was led by Airbridge Equity Partners (Netherlands). Existing investors that include Expon Capital’s Digital Tech Fund, ScaleFund, Seeder, Dedicated, Bondi Capital, Carricha Capital, and LBAN also participated, along with industry veterans such as Christophe Bianco (co-founder of Excellium Services) and Xavier Buck (co-founder of Datacenter Luxembourg).
The company intends to use the funds to accelerate open source development and meet complex security and regulatory requirements.
Led by CEO Kevin Muller, Passbolt provides an application programming interface (API)-centric, versatile platform that collaboratively manages and protects accounts, credentials and secrets used by both people (system administrators, broader workforce and others) as well as machines (systems or applications) across various devices. It supports not just passwords, but all organizational credentials, from root accounts, SSH keys, API keys, non-human credentials or key-value secrets for infrastructure access to simple web logins and Time-based One-Time Passwords (TOTPs), a common method of two-factor authentication (2FA) or multi-factor authentication (MFA).
It is also an open source and allows for the control with self-hosting capabilities and flexible customization to match company policies and regulatory needs. The company’s portfolio includes a full-fledged free community edition (Passbolt CE) and a commercial enterprise edition (Passbolt Pro) that comes with support, as well as a SaaS offering (Passbolt Cloud).
Previous funding was a Pre-Seed of $620K in December 2018 and a $3.1M Seed Funding that closed in January 2021.
FinSMEs
24/01/2025