Password Box
Acquired2 known investors
Montreal-based cross-platform password and digital-legacy management service, acquired by Intel and folded into the True Key app.
Also known as Password Box Β· PasswordBox
Investors Β· 2
Also in the syndicate Β· 1
Company profile
researched Aug 2026PasswordBox was a Montreal-headquartered consumer identity and password management service that let users generate strong passwords, store online credentials in a single encrypted service, and log in to websites and apps across devices without typing passwords. The company also offered digital-legacy features that allowed a user's online accounts and assets to be transferred to designated trusted people after death, a capability it strengthened by acquiring Legacy Locker in November 2013 and describing itself thereafter as the only free service to manage online accounts "during life and after."
The service launched in private beta around 2012 and opened to the public in June 2013, surpassing one million users by September 2013 and around 14 million downloads by the time of its acquisition by Intel. Alongside password management, the company signalled a planned move into biometric security. After the Intel acquisition, PasswordBox announced in November 2015 that it would close its own password manager and concentrate on the jointly developed True Key app, keeping the legacy PasswordBox service running as-is until Fall 2016 while inviting users to migrate. The passwordbox.com domain now presents True Key, a McAfee-branded password manager that stores credentials locally with AES-256 encryption, syncs them across Windows, Mac, iOS and Android, and requires multi-factor authentication using factors such as a master password, a second device, fingerprint, email confirmation and trusted-device recognition, plus Windows Hello in the Microsoft Edge extension.
Founding story
Co-founder and CEO Daniel (Dan) Robichaud, a serial entrepreneur who had previously sold StreamTheWorld to Triton Digital Media in 2010 (reportedly for about $50 million) and then worked as an angel investor, wanted to return to operating a company. The product idea came while visiting his mother as she digitized family photos into an online account; after she was involved in a minor car accident he realized there would be no way to reach those photos or her other digital accounts, which led to building a service for managing and eventually transferring one's digital life.
Business model
Freemium consumer software: a free tier limited to 25 stored passwords, with unlimited password storage available for $11.99 per year (later described as $1 per month) or by inviting friends to the service. The successor True Key app offers a free tier of 15 passwords and an "unlimited" tier, capped at 2,000 passwords, for $20 per year.
Paid annual or monthly consumer subscriptions upgrading users from a capped free tier to unlimited password storage.
Traction
Public launch in June 2013 followed by more than one million users by September 2013 and roughly 14 million software downloads by the time Intel acquired the company; headcount of about 35 in November 2013.
Latest developments
In November 2015, less than a year after the Intel acquisition, PasswordBox announced it was closing its own password manager and directing users to Intel's True Key app, with the legacy service remaining available until Fall 2016 and migrating users offered a special subscription. The passwordbox.com address now hosts True Key under McAfee branding.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
One of several consumer password managers competing with LastPass and 1Password in a growing password management market; differentiated within that field by combining day-to-day credential management with digital-afterlife account transfer. Investor Lee Linden characterized the product's attention to detail as ahead of existing alternatives.
Combination of free password management with digital legacy/afterlife transfer of online accounts, positioned by the company as the only free service covering online accounts both during life and after; emphasis on ease of use for mainstream, non-technical users.
Technology
Encrypted credential storage with automatic form filling and login across desktop and mobile platforms; the successor True Key product stores data locally on the device and encrypts it with AES-256 when synced across devices, and enforces multi-factor authentication (master password, second device push approval, fingerprint reader, email link, trusted device, Windows Hello on Edge) with browser extensions for Chrome, Firefox, Microsoft Edge and Safari. PasswordBox had also announced plans to move into biometric security.
Go-to-market
Direct-to-consumer distribution through a free web and mobile app with viral referral incentives (inviting friends unlocked unlimited passwords), press coverage, founder public speaking such as Startup Grind Montreal, and user acquisition via the Legacy Locker acquisition, whose customers received free lifetime subscriptions.
Consumers and households managing credentials for email, online shopping, app stores and other web accounts, including less technical users, and people wanting to pass access to their digital accounts to family or trusted contacts.
Geography
Headquartered in Montreal, Quebec, Canada, with a smaller office in San Francisco.
History
Started in private beta around 2012 and opened to the public in June 2013, the company passed one million users in September 2013. In November 2013 it announced a $6 million Series A led by OMERS Ventures and acquired digital afterlife service Legacy Locker, whose users were migrated within about 60 days. Intel acquired PasswordBox, and in November 2015 the company said it would shut its own service and focus on Intel's True Key, keeping PasswordBox operational until Fall 2016.
Risks & controversies
The shutdown announcement drew public criticism from users on Twitter over the effort of exporting large password collections and over True Key's higher pricing: True Key's free tier allows only 15 passwords and its "unlimited" tier is capped at 2,000 passwords for about $20 per year, versus PasswordBox's 25 free passwords and roughly $12 per year unlimited plan, so migrating users generally faced higher costs. Commentators had also noted the structural risk that digital-legacy services are only useful if the provider survives long term.
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 5
launches, deals, and filingsPasswordBox said in a blog post it would close its own password manager and focus on the jointly developed Intel True Key app, with the PasswordBox service to remain as-is until Fall 2016 and migrating users offered a special True Key subscription offer.
PasswordBox was acquired by Intel; at the time of the acquisition the company reported about 14 million downloads and $6 million raised from investors including OMERS Ventures and Lee Linden.
PasswordBox acquired Legacy Locker, a service that grants designated friends and family access to online accounts after a user's death. Terms were not disclosed. Legacy Locker users received a free lifetime PasswordBox subscription and were migrated over roughly 60 days, after which Legacy Locker was shut down; founder Jeremy Toeman joined PasswordBox as an advisor.
PasswordBox announced a US$6-million Series A round led by OMERS Ventures, with participation from Silicon Valley angel investors including BOKU CEO Mark Britto and Facebook head of e-commerce Lee Linden. Proceeds were earmarked for scaling the company beyond its then 35-person team in Montreal and San Francisco.
$6M source β
After roughly a year in private beta, PasswordBox made its password management service generally available in June 2013.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 8
primary sources listed
- Password Boxpasswordbox.com Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Password Box do?
- Montreal-based cross-platform password and digital-legacy management service, acquired by Intel and folded into the True Key app.
- Who are Password Box's investors?
- Password Box's investors include OMERS Ventures.