Vilnius-based Nord Security, a company known for its VPN services, announced on Thursday that it has raised $100M (approximately €95M) at a valuation of $3B in a funding round led by Warburg Pincus, a New York-based global growth investor.
Existing investors, including Novator Ventures and Burda Principal Investments, also participated in the round.
Nord Security says it will use the funds to expand its product offering and accelerate growth through strategic mergers and acquisitions.
Tom Okman, co-CEO and co-founder at Nord Security, says, “Our users’ trust allowed us to remain on a sustainable and profitable journey for more than decade. In a saturated cybersecurity market, it is not enough to offer next-gen privacy and security solutions. They also have to be intuitive for both professional and casual internet users.”
“We will continue to address the needs of our users by bringing market-leading innovative features, informative marketing, and a holistic approach towards consumer and businesses cybersecurity needs,” adds Okman.
The announcement comes over an year after raising $100M (approx €91.7M) in a financing round at a valuation of $1.6B.
Nord Security: What you need to know
Nord Security was founded in Lithuania in 2012 by Tom Okman and Eimantas Sabaliauskas to create internet security and privacy tools that are easily accessible to everyone.
At present, Nord Security’s product suite includes:
- NordVPN
- NordPass
- NordLayer
- NordLocker
In 2022, Nord Security formed a group of companies with another popular consumer cybersecurity company Surfshark.
Surfshark’s product suite includes:
- Consumer VPN
- Antivirus
- Online data leak detection system – Alert
- Online identity protection tool – Alternative ID
- Private search tool – Search
- Automated personal data removal system – Incogni
Nord Security operates in more than 20 markets and employs around 2,000 professionals globally.
Eimantas Sabaliauskas, co-CEO and co-founder at Nord Security, says, “Modern cybersecurity requires cutting-edge innovations, and that’s where our talented professionals make Nord Security stand out. Over the years we focused on fostering a community where driven experts are welcomed and enabled to make a radically better internet.”
“The Nord community, made up of individuals from all corners of the globe, works together to make sure that our users can be safer online, every day. And we believe many share our cause and our mission,” adds Sabaliauskas.
The investor
Warburg Pincus is a global growth investor with over $83B in assets under management.
To date, the firm’s active portfolio of more than 250 companies is highly diversified by stage, sector, and geography.
Founded in 1966, Warburg Pincus has raised 21 private equity and 2 real estate funds, which have invested more than $112B in over 1,000 companies in more than 40 countries.
The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.
Read the orginal article: https://siliconcanals.com/news/startups/nord-security-bags-95m-at-3b-valuation/
