![](https://d15shllkswkct0.cloudfront.net/wp-content/blogs.dir/1/files/2023/09/vpn-4255480_1280.jpg)
![](https://d15shllkswkct0.cloudfront.net/wp-content/blogs.dir/1/files/2023/09/vpn-4255480_1280.jpg)
Nord Security Ltd., the virtual private network provider and parent company of NordVPN, announced today that it has raised $100 million in a strategic funding round that nearly doubled its valuation to $3 billion.
The funding round was led by Warburg Pincus, a U.S. private equity group and accompanied by existing investors Novator Ventures and Burda Principal Investments. This investment follows another $100 million infusion just over a year ago that placed the company’s valuation at $1.6 billion.
Nord Security was founded in Lithuania in 2012 and provides virtual private networking services, privacy and security tools that are designed to be easily accessible for businesses and consumers. Its products include a large suite of apps that can be easily launched and integrated into existing systems or loaded onto personal computers and mobile devices in order to safely surf the web or access information without it being intercepted by third parties.
This expansive new round shows a continuing interest in cybersecurity investments and in Nord itself following an increase in cybersecurity attacks ranging from espionage and exploits. Privacy is a premium for many users, especially in the enterprise, but it has also become a common concern for the everyday consumer as well. According to a 2023 report from Forbes, 72% of desktop and laptop users use a VPN and 69% of people use a VPN on mobile device.
“Our users’ trust allowed us to remain on a sustainable and profitable journey for more than decade,” said Tom Okman, co-founder and co-chief executive of Nord Security. “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.”
NordVPN’s tools include the mass-market consumer VPN tool NordVPN, which the company claims is used by millions of consumers and businesses around the world. The company also offers NordPass, a password manager, NordLocker, an encrypted cloud storage service, and NordLayer, which provides secure remote access networking for businesses.
The cybersecurity market is projected to grow from $172.32 billion in 2032 to $424 billion in 2030, according to research from Fortune Business Insights. This includes VPNs, cloud security, password management software and other security layers as well as threat intelligence. Much of the growth in the industry is being driven by the affordability and ease of which customers can access cloud-based tools and security systems.
Nord Security currently operates in over 20 markets including the U.S., the U.K., Canada, Australia and Germany. The company also employs around 2,000 people globally.
“Over the years we focused on fostering a community where driven experts are welcomed and enabled to make radically better internet,” said Eimantas Sabaliauskas, Nord’s other co-founder and co-chief executive. “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.”
Last year, Nord Security completed a merger agreement with SurfShark B.V., a cybersecurity company that also offers VPN services. The two companies continue to operate separately but can now combine their resources towards common goals. SurfShark also offers its customers access to antivirus software, online data leak alerts and identity protection.
THANK YOU