Passbolt has secured $8 million in seed funding to position itself as the leading password manager for small and midsize businesses, with an eye toward enterprise clients. Founded by Kevin Muller and his team, Passbolt distinguishes itself from consumer-focused tools like Bitwarden and 1Password by offering a more integrated solution. Muller points out that existing tools are fragmented and lack intercommunication, leading to inefficiencies. Passbolt aims to enhance collaboration and provide better control over credential access, meeting the specific security demands of businesses.
"You look at Bitwarden, for example, or even 1Password, what they are doing is they have, at one end, a simple password management for the workforce, and then they built a secret manager - or they purchased a secret manager - for the DevOps teams, and then they build something else for authentication... So it's quite fragmented. And one of the problems is that these tools, most of the time, cannot talk to each other."
"What we wanted was more collaboration, more security, and more control, which is fundamental for small and midsize businesses to effectively manage credentials. Passbolt aims to provide this by integrating various functionalities into a single platform tailored for team needs."
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