Nord Security, a digital security leader, has secured $100m in its first outside capital funding raise to raise its valuation to $1.6bn.
The raise was led by Novator Ventures and saw participation from Burda Principal Investments and General Catalyst.
Nord Security has a well-known product suite that includes offerings such as NordVPN, password manager NordPass, NordLocker for encrypted cloud storage and NordLayer for network access security. It also offers Surfshark, a consumer-focused security company it merged with earlier this year.
The capital will be used to expand the company’s expanding product suite, boost its enterprise footprint and grow Surfshark as well as make new hires at all levels of the business.
Nord Security co-CEO and co-founder Tom Okman said, “Ten years ago, we set out to create security and privacy tools which would help create a safer and more peaceful online future; today, millions of people trust our products every day to protect them. We are profitable and have been bootstrapped until today, but in our investors, we have found partners who believe in our mission as much as we do, which will allow us to grow faster and double down on our aspiration to build a radically better internet. We’re also humbled to play a part in helping Lithuania, a fiercely entrepreneurial country, enter a new era of technological innovation.”
Nord Security co-CEO Eimantas Sabaliauskas added, “Right now, we have over 200 open positions and 50% YoY headcount growth with no plans of stopping any time soon. The investment will help us with the expansion of our product suite, acquisitive growth [it acquired AtlasVPN in October 2021], and intensive R&D. And most importantly, our investors share our vision of building a radically better internet. So together, we’ll continue to do exactly that, only with a higher gear.”
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