Lithuanian cyber unicorn Nord Security raised $100M
Lithuanian provider of digital security and privacy solutions for individuals and businesses Nord Security raised $100M at a $3B valuation. New York-based growth investor Warburg Pincus LLC led the round. Nord Security’s existing investors London-based growth equity fund Novator Ventures and Munich-based growth equity firm Burda Principal Investments also joined the deal.
Founded in 2012 in Vilnius by Tom Okman, Eimantas Sabaliauskas, and Jonas Karklys, Nord Security has developed a VPN service NordVPN, which allows to increase online security, detect malware during downloads, and block trackers and intrusive ads. In addition, Nord Security designed a password manager NordPass, a network access security software for businesses NordLayer, and encrypted cloud storage NordLocker.
In 2022, Nord Security joined forces with Lithuanian cybersecurity company Surfshark, which has developed a consumer VPN, antivirus, online data leak detection system Alert, online identity protection tool Alternative ID, a private search tool Search, and automated personal data removal system Incogni. Nord Security works in 26 countries and has about 2K employees.
In 2022, the company raised $100M at a $1,6B valuation and became a unicorn. It was the first financing that Nord Security received from external investors. Earlier, it had been bootstrapped.
The technology company will use the investments to develop Nord Security and Surfshark products in various global markets and make strategic acquisitions, which will provide private and corporate clients with more cybersecurity services. Apart from this, Nord Security may try to go public in an initial public offering (IPO).
