Indeed, there has been a concerted push toward passwordless authentication across the technology landscape.

Now, Bitwarden is looking to capitalize on a burgeoning trend in the online security sphere, one that is looking to consign passwords to the history books - compromised passwords, after all, are responsible for most business security breaches. Bitwarden’s key selling point, though, is that it’s open source - or, at least, it’s source available, meaning that it promises full transparency into the codebase, while also allowing the community to contribute and help develop new features.

It’s all about helping people to not re-use the same predictable password across all their online services. Similar to other password management services, Bitwarden is designed to make it easier for individuals and enterprises to automatically create hard-to-guess passwords, and store them all in a secure vault. The company also revealed at the time that it had raised a previously undisclosed Series A round in 2019.

The news comes shortly after 1Password and LastPass rival Bitwarden announced its first outside funding since its inception in 2015, securing $100 million from PSG and Battery Ventures. Open source password management platform Bitwarden has made its first known acquisition, snapping up a fledgling Sweden-based startup called v, which specializes in helping developers integrate passwordless authentication technology into their software.

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