Passbolt, a leading open-source solution for collaborative password and access management, has raised $8 million in Series A funding. This milestone, led by Airbridge Equity Partners, will drive the development of the all-in-one platform and meet the rising demand for secure and regulatory-compliant tools in agile organizations worldwide.
Founded in 2016 in Luxembourg, Passbolt aims to fill the gap between individual password managers and overly complex professional solutions. According to Kevin Muller, co-founder and CEO, “Organizations are stuck with tools that fail to support agile, secure collaboration in modern digital environments. Passbolt is changing that narrative.”
Passbolt’s solution is designed for teams and organizations of all sizes. It enables technical teams to collaboratively manage IT infrastructure, software development, and organizational security, while offering non-technical users easy and secure access to productivity tools.
“Open source is the cornerstone of our business model.”
Kevin Muller, co-founder and CEO of Passbolt
Funding to accelerate growth and innovation
The Series A funding round, led by Dutch firm Airbridge Equity Partners, included participation from existing investors such as Expon Capital, ScaleFund, and Bondi Capital. Industry experts Christophe Bianco and Xavier Buck also joined the effort, signaling strong confidence in Passbolt’s potential.
Airbridge’s managing partner, Rick van Boekel, noted, “Traditional tools like Keepass and CyberArk fall short for today’s agile, distributed teams. Passbolt’s organic adoption and impressive SaaS metrics highlight the demand for collaborative, professional solutions.”
The funds will expedite the development of Passbolt 5.0, its next major release, which introduces several groundbreaking features: a revamped user interface for a simplified and modern experience, encryption of metadata for an additional layer of security, and support for new configurable content types, such as credit cards, SSH keys, passkeys, certificates, and more.
Expanding partnerships and integrations
Passbolt has rapidly gained traction in the public sector and higher education, with notable clients such as the CTIE, the Municipality of Macerata, ZIT-RLP, and TU-Graz. Prestigious institutions like the French Ministry of the Interior, national defense agencies, and overseas military institutions have also adopted Passbolt in recent months.
“Our primary audience remains SMEs with a digital-first approach,” explains Muller. “These businesses typically have technical teams that value agile and collaborative workflows, making Passbolt a natural fit.”
With Passbolt 5.0, the company plans to support passkeys, enhancing authentication and integration capabilities with other IT and security tools. Muller emphasized, “This aligns with our goal to provide flexible and secure access management tailored to modern business needs.”
Passbolt also continues to broaden its reach by supporting additional Linux distributions, new SIEM connectors for log exports, and LDAP-based user directories.
“From the beginning, we’ve supported Passbolt in transforming password and access management for modern teams.”
Alain Rodermann, partner at Expon Capital
Commitment to Open Source
Passbolt remains deeply committed to its open-source roots. “Open source is the cornerstone of our business model,” Muller affirmed. “The community drives our growth, and the Community Edition will remain free and fully open source, with no compromise on features.”
The Privileged Access Management (PAM) market is projected to reach $2.8 billion by 2027, according to Gartner. Factors such as increased remote work, mobile device usage, and the need for secure external contractor access are driving this growth. Passbolt is well-positioned to meet these demands, bridging the gap between traditional solutions and modern team requirements.
Passbolt already serves over 40,000 organizations, ranging from government entities and defense agencies to universities and startups. “From the beginning, we’ve supported Passbolt in transforming password and access management for modern teams,” said Alain Rodermann, partner at Expon Capital.
With a strong foundation, an innovative approach, and a commitment to open-source principles, Passbolt is poised to redefine how organizations manage passwords and access securely in an increasingly digital world.
