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Nord Security: Lithuania’s cybersecurity company known for NordVPN becomes a unicorn, nabs $100M at $1.6B valuation

Nord security
Image credits: Nord security

Lithuanian cybersecurity company Nord Security, touted to be a global leader in internet privacy and security solutions, has just nabbed $100 million funding. With this, the valuation of the company is now $1.6 billion.

The investment round was by Novator Ventures along with participation from Burda Principal Investments and General Catalyst that invested in Packfleet and Remote. The round involved participation from founders and angel investors, including Ilkka Paananen (CEO, Supercell), Miki Kuusi (CEO, Wolt) and Matt Mullenweg (CEO, Automattic).

Funds utilisation

Nord Security will use the investment to make key hires at all levels and across every function, thereby growing its team of 1,700 people. Also, it will accept the expansion of its product suite and geographical footprint through acquisitive growth and intensive R&D on new platform features.

The cybersecurity company will enable both consumers and companies to secure online networks, information and accounts. It will also accelerate the growth of consumer cybersecurity company Surfshark, which Nord Security joined forces with in early 2022.

Tom Okman, co-CEO and co-founder at Nord Security, said: “Ten years ago, we set out to create security and privacy tools which would help create a safer and more peaceful online future; today, millions of people trust our products every day to protect them. We are profitable and have been bootstrapped until today, but in our investors, we have found partners who believe in our mission as much as we do, which will allow us to grow faster and double down on our aspiration to build a radically better internet. We’re also humbled to play a part in helping Lithuania, a fiercely entrepreneurial country, enter into a new era of technological innovation.”

Birgir Már Ragnarsson, managing partner at Novator Ventures, who joined Nord Security’s board, added: “Tom and his team are well-positioned to deliver and usher in the new era of internet security with a powerful and best-in-class suite of privacy and security tools, designed to protect information, accounts and networks. It’s rare to find a company that can already demonstrate such an excellent track record, brand credibility and unwavering focus on serving customers, so we are delighted to partner with Nord Security to support the team as they execute their vision at scale.”

Best known for NordVPN!

The company pioneered the mass-market consumer VPN category with NordVPN. It aims to help consumers and businesses enhance their security and privacy protections with a holistic suite of products. It lets users to analyse, detect and contain threats at the edge of a network before they penetrate sensitive end-user devices.

NordVPN costs around $140 a year or $12 a month. With this product, Nord Security stands against other VPN companies including Turbo VPN and UFO VPN.

Internet security for everyone!

Nord Security was founded in Lithuania in 2012 by Tom Okman and Eimantas Sabaliauskas in Vilnius, the Lithuanian capital. The company was launched to create an internet security and privacy tool that was easily accessible for everyone. Now, its suite of products is trusted by millions of consumer users worldwide, as well as by a range of businesses, including the likes of Calendly, Adobe, Shutterstock and Vinted. These products offer advanced threat protection against complex and evolving cyberthreats.

Nord Security operates in 20 countries globally and is continuing to expand rapidly with over 200 open positions and 50% YoY headcount growth.

In February 2022, Nord Security joined forces with Surfshark, one of the most popular consumer cybersecurity companies in the world. Both the companies have a shared vision of providing people with modern privacy and security solutions.

Surfshark’s product suite includes a consumer VPN, Antivirus, Alert (online data breach detector), Search (privacy search), and Incogni (data deletion tool for online databases.

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