“The success we’ve seen across the entire LogMeIn portfolio over the last 18 months proves there is a vast growth opportunity ahead for both LastPass and LogMeIn,” said Andrew Kowal, Partner, Francisco Partners.
The importance of securing identity verification among consumers and businesses is rising given the rapid proliferation of passwords and the prevalence of unauthorized access by hackers. Today, the significant majority of LastPass’ business is represented by corporate customers, illustrating the business imperative that password management has become to organizations of all sizes. “The substantial scale of LastPass, its tremendous growth, and its market leading position and brand makes it a perfect candidate to seize new opportunities as its own standalone company,” said Bill Wagner, President and Chief Executive Officer of LogMeIn. Customers will experience planned enhancements on an accelerated timeline in 2022, with the benefit of additional dedicated LastPass resources. The category leader in zero-knowledge password management, LastPass is used by more than 30 million users and 85,000 businesses worldwide and is set for strong and sustained growth as consumers and businesses continue prioritizing password security.īy establishing LastPass as a standalone business, the company plans to increase investment in the customer experience, go- to-market functions and engineering to accelerate its organic growth in password management, Single Sign-On (SSO) and Multi-factor Authentication (MFA). 14, 2021 (GLOBE NEWSWIRE) - LogMeIn, Inc., a leading provider of cloud-based solutions such as LastPass, GoToConnect, GoToMeeting, and Rescue, today announced the intent to establish LastPass as a standalone company. Industry leader in Enterprise Password Management with over 50% Revenue CAGR over the last 3 yearsīOSTON, Dec.
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