Nord Security, headquartered in Vilnius and renowned for its VPN services, revealed on that it has secured $100 million (around €95 million) in a funding round, valuing the company at $3 billion. The funding round was spearheaded by Warburg Pincus, a global growth investor based in New York.
In addition to Warburg Pincus, existing investors such as Novator Ventures and Burda Principal Investments also joined the funding round.
The company plans to utilize the capital to diversify its product portfolio and expedite growth through strategic mergers and acquisitions.
Tom Okman, co-CEO and co-founder at Nord Security, stated, “Our users’ trust has sustained us on a profitable journey for over a decade. In an oversaturated cybersecurity market, providing next-gen privacy and security solutions is not enough. They must also be user-friendly for both professional and casual internet users.”
He further emphasized, “We will continue to cater to our users’ needs by introducing market-leading innovative features, informative marketing, and a comprehensive approach to meeting the cybersecurity requirements of consumers and businesses.”
This announcement follows a funding round just over a year ago, where Nord Security raised approximately €91.7 million at a valuation of $1.6 billion.
About Nord Security
Nord Security was established in Lithuania back in 2012 by its co-founders, Tom Okman and Eimantas Sabaliauskas, with the aim of providing easily accessible internet security and privacy tools for everyone.
Presently, Nord Security’s product portfolio comprises:
In 2022, Nord Security joined forces with another prominent consumer cybersecurity company, Surfshark. Surfshark offers a range of products including:
- Consumer VPN
- Online data leak detection system called Alert
- Online identity protection tool known as Alternative ID
- Private search tool named Search
- Automated personal data removal system called Incogni
Nord Security operates in over 20 markets and boasts a global workforce of approximately 2,000 professionals.
Eimantas Sabaliauskas, co-CEO and co-founder at Nord Security, emphasized, “Modern cybersecurity demands cutting-edge innovations, and that’s where our talented professionals set Nord Security apart. Throughout the years, we’ve focused on nurturing a community where motivated experts are welcomed and empowered to revolutionize the internet.”
He further added, “The Nord community, composed of individuals from around the world, collaborates to ensure that our users can enjoy a safer online experience every day. We believe that many others share our cause and our mission.”
About the Investor
Warburg Pincus is a global growth investor managing assets totaling over $83 billion.
As of now, the firm maintains a diversified active portfolio comprising more than 250 companies, spanning various stages, sectors, and geographic regions.
Established in 1966, Warburg Pincus has successfully raised 21 private equity funds and 2 real estate funds, directing over $112 billion in investments toward more than 1,000 companies across 40 countries.
The company is headquartered in New York and operates offices in multiple locations worldwide, including Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.