Vilnius-based Nord Security, the team behind the ever-popular NordVPN has taken on external funding for the first time in its decade-long history to the tune of $100 million at a $1.6 billion valuation.
You don’t need me to tell you or look very far to know that the interwebz is chock full o’ nuts. While having (arguably) pioneered the mass adoption of VPN technology via its NordVPN offer, Nord Securities is now taking on external funding to fuel the leap to the next phase of corporate growth.
The firm aims to ramp up production and output of a “holistic suite of products, which allow consumers and businesses to analyse, detect and contain threats at the edge of a network before they penetrate sensitive end-user devices,” namely via cybersecurity company, Surfshark, which Nord Security merged with earlier this year.
“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,” explained Nord Security co-CEO, co-founder, and Audemars Piguet wearer Tom Okman. “We’re also humbled to play a part in helping Lithuania, a fiercely entrepreneurial country, enter into a new era of technological innovation.”
Nord Security’s $100 million funding round was led by Novator Ventures, with Burda Principal Investments and General Catalyst participating. A host of founders and angel investors including Ilkka Paananen (CEO, Supercell), Miki Kuusi (CEO, Wolt) and Matt Mullenweg (CEO, Automattic) also joined the round.
“Modern internet security requires a completely new approach to address the secular growth of risks from expanding data regulations and ever-worsening cyberthreats. 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,” commented Novator Ventures’ Birgir Már Ragnarsson. “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.”
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