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Additionally, 1Password on Thursday announced it is bringing on former ChargePoint and Barracuda Networks executive Michael Hughes as president.
Former Qualtrics and SAP executive John Torrey will join as chief business officer.
Faugno said both executives complement the company’s strategy to lure larger enterprise customers.
Faugno told CNBC that the company is weighing a possible IPO in 2026 or 2027 but isn’t “rushing out to go public.” He said 1Password remains focused on providing the best tools for its customers.
“We control our own destiny,” he said. “From a profitability perspective, we have investors that are playing the long game with us.”
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