In a recent turn of events, Vilnius-based Nord Security, the renowned VPN provider, has seen its valuation surge nearly twofold in just one year, now standing at an impressive $3 billion following a new $100 million funding round. This investment was spearheaded by Warburg Pincus, accompanied by support from existing investors Novator Ventures (a backer of Deliveroo and Cazoo) and Burda Principal Investments. A mere year ago, Nord Security secured its first external investment, raising $100 million and earning an initial valuation of $1.6 billion.
The latest investment will be used to expand the unicorn’s product offering and accelerate growth through strategic mergers and acquisitions. This will allow the company to further enhance both consumer and business customers’ security. Reportedly, Nord, which was founded in Lithuania in 2012 by Tom Okman and Eimantas Sabaliauskas and operates in the US, UK, Canada, Australia and Germany among other markets, could eventually pursue an initial public offering.
NordVPN: Online VPN for privacy and security!
The Vilnius-based company’s NordVPN software protects internet users’ online identities. Additionally, the company offers tools for managing passwords and sharing files.
Tom Okman, co-CEO and co-founder at Nord Security, said: “We are grateful that Warburg Pincus shares that trust and our vision for the future of the internet. 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. The new financing round, together with our investors’ experience and know-how, allow us to be in an even stronger position to make the Nord name synonymous with online privacy and security.”
Eimantas Sabaliauskas, co-CEO and co-founder at Nord Security, said: “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 radically better internet. The Nord community, made up of individuals from all corners of the globe, work together to make sure that our users can be safer online, every day. And we believe there are many who share our cause and our mission.”
Chandler Reedy, Managing Director, Head of Strategic Investments, and Co-Head of Business Services, who also joins Nord Security’s board, added: “Leveraging the expertise of Warburg Pincus’ Capital Solutions team and its Capital Solutions Founders Fund, Nord Security is well positioned to gain further momentum in this complex market environment. The investment is being made out of the Capital Solutions Founders Fund. We look forward to working with Tom, Eimantas and their talented team to provide consumers peace of mind when navigating the internet.”
