Nord Security, the Vilnius-based firm most noted for its VPN service NordVPN, has taken on external funding for only the second time in its 11-year-long history, today announcing the injection of $100 million at a $3 billion valuation; a figure nearly double that of just one and a half years prior.
The investment round was led by New York-based private equity firm Warburg Pincus, with existing investors Novator Ventures and Burda Principal Investments doubling down.
According to a statement issued earlier today, Nord Security intends to use the capital to further expand the company’s product lineup as well as fuel growth via M&A activities.
On the investment, Nord Security co-CEO and co-founder Tom Okman commented:
“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, allows us to be in an even stronger position to make the Nord name synonymous with online privacy and security.”
Founded in 2012, Nord Security and its associated suite of security products, are active in 20 markets globally and employ approximately 2,000 individuals.
Existing angel backers of the company include Supercell CEO Ilkka Paananen (CEO, Supercell), Wolt CEO Miki Kuusi (CEO, Wolt), and Automattic CEO Matt Mullenweg.
Lead image: Nord Security co-CEO Tom Okman. Photo: Uncredited.