In an astonishing turn of events, Nord Security, the Vilnius-based VPN juggernaut, has witnessed a meteoric rise in its valuation, soaring to an impressive $3 billion after a momentous $100 million funding round. Spearheaded by investment powerhouse Warburg Pincus, with strong support from existing investors Novator Ventures and Burda Principal Investments, this valuation nearly doubles Nord Security's worth in just one year.
A mere 12 months ago, Nord Security secured its first external investment, raising $100 million and achieving an initial valuation of $1.6 billion. Today, this unicorn is reaching even greater heights, poised to transform the landscape of online privacy and security.
The infusion of fresh capital is not only a testament to Nord Security's potential but also a springboard for its ambitious expansion plans. The company intends to broaden its product portfolio and supercharge growth through strategic mergers and acquisitions. This strategic move is set to elevate security standards for both individual consumers and businesses, further solidifying Nord Security's position as a frontrunner in the cybersecurity arena.
Founded in Lithuania in 2012 by Tom Okman and Eimantas Sabaliauskas, Nord Security operates globally, serving users in the US, UK, Canada, Australia, Germany, and various other markets. As it continues its journey, an initial public offering (IPO) could be in the cards, adding an exciting chapter to Nord Security's remarkable story.
At its core, Nord Security's flagship product, NordVPN, stands as a guardian of online privacy and security. Their software shields internet users' identities, and the company also offers powerful tools for password management and file sharing.
Tom Okman, co-CEO, and co-founder of Nord Security, expressed gratitude for Warburg Pincus's trust and shared vision for the future of the internet. He highlighted Nord Security's commitment to delivering innovative features and holistic cybersecurity solutions to its users.
Eimantas Sabaliauskas, co-CEO, and co-founder of Nord Security emphasized the importance of fostering a community of experts dedicated to making the internet safer. He stressed that the Nord community, comprising individuals from across the globe, collaborates to ensure users can navigate the online world with greater security.
Chandler Reedy, Managing Director, Head of Strategic Investments, and Co-Head of Business Services at Warburg Pincus, expressed enthusiasm about the investment and its potential impact in the complex cybersecurity landscape. He emphasized the importance of providing consumers with peace of mind when traversing the digital realm.