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HomeFunding Nord Security Raises $100 Mn funding at a $3 Bn valuation

[Funding alert] Nord Security Raises $100 Mn funding at a $3 Bn valuation

Tom Okman and Eimantas Sabaliauskas, Co-founders of Nord Security

Nord Security received $100M in its initial outside investment round in April 2022 at a $1.6B valuation. By concentrating on continuous growth and obtaining new funding, Nord Security doubled its valuation to $3B in little more than a year.

With the injection of $100 million at a $3 billion valuation, Nord Security, the Vilnius-based company best known for its VPN service NordVPN, has received external funding.

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Today, a variety of businesses and millions of consumers all over the world rely on the product line from Nord Security. More than 20 markets are served by Nord Security, which has 2,000 professionals working for it worldwide.

Tom Okman, co-CEO and co-founder at Nord Security, said: “Our users’ trust allowed us to remain on a sustainable and profitable journey for more than decade. In a saturated cybersecurity market, it is not enough to offer next-gen privacy and security solutions. They also have to be intuitive for both professional and casual internet users. We are grateful that Warburg Pincus shares that trust and our vision for the future of the internet. 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, allow us to be in an even stronger position to make the Nord name synonymous with online privacy and security.”

Nord Security was founded in Lithuania in 2012 by co-founders and co-CEOs Tom Okman and Eimantas Sabaliauskas.

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Eimantas Sabaliauskas, co-CEO and co-founder at Nord Security, said: “Modern cybersecurity requires cutting-edge innovations, and that’s where our talented professionals make Nord Security stand out. Over the years we focused on fostering a community where driven experts are welcomed and enabled to make radically better internet. The Nord community, made up of individuals from all corners of the globe, work together to make sure that our users can be safer online, every day. And we believe there are many who share our cause and our mission.”

Since its founding, Warburg Pincus has made over $22 billion in technology companies, making it one of the most active growth investors in business technology and cloud-based platforms. The following notable investments are made in technology: Avalara, Infoblox, NEOGOV, and Salsify.

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Chandler Reedy, Managing Director, Head of Strategic Investments, and Co-Head of Business Services, who also joins Nord Security’s board, added: “Nord Security is a market leader with a comprehensive track record of combatting cybercrime and data protection issues. With an attractive long-term outlook supported by state-of-the-art cybersecurity tools, Nord Security’s business model and strategy align well with our extensive experience in the cybersecurity sector. Leveraging the expertise of Warburg Pincus’ Capital Solutions team and its Capital Solutions Founders Fund, Nord Security is well positioned to gain further momentum in this complex market environment. The investment is being made out of the Capital Solutions Founders Fund. We look forward to working with Tom, Eimantas and their talented team to provide consumers peace of mind when navigating the internet.”

About Nord Security

One of the top providers of digital security and privacy solutions to both businesses and consumers worldwide is Nord Security.

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The largest and most well-known VPN service in the world, NordVPN, as well as password manager NordPass, network access security software for businesses, NordLayer, and encrypted cloud storage, NordLocker, are all part of Nord Security’s product suite. Nord Security was bootstrapped for more than ten years before receiving its first outside investment.

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