Nord Security – a global leader in internet privacy and security solutions – recently announced a $100 million funding round from Warburg Pincus, a leading international growth investor. The existing investors participating in the round include Novator Ventures and Burda Principal Investments.
This funding round will expand Nord Security’s product offering and accelerate growth through strategic mergers and acquisitions, allowing the company to enhance consumer and business customers’ security even more. In April 2022, Nord Security raised $100 million in its first-ever external investment round at a $1.6 billion valuation. In just over a year, by focusing on continuous growth and raising new funding, Nord Security doubled its valuation to $3 billion.
Nord Security transformed the way consumers perceive and interact with digital security. By developing an all-encompassing tool that guards users’ online traffic, offers breach alerts, combats malware downloads, and helps in removal from data broker lists, Nord Security has elevated industry standards.
It is estimated that the global cybersecurity market size will grow to $538.3 billion U.S. dollars by 2030. In a time where cyber threats grow in both complexity and frequency, sustainable growth and preemptive security measures are paramount.
Nord Security – whose product suite includes the biggest and most popular VPN service in the world NordVPN, password manager NordPass, network access security software for businesses NordLayer, and encrypted cloud storage NordLocker – had been bootstrapped for over a decade prior to raising its first outside investment. The company was able to leverage a sustainable business model to build a diversified revenue stream with a global user base and develop resilience to turbulence in the financial and venture capital markets currently felt by startup ecosystems all over the globe.
Last year, Nord Security formed a group of companies with another popular consumer cybersecurity company: Surfshark. Surfshark’s product suite includes a consumer VPN, Antivirus, online data leak detection system Alert, online identity protection tool Alternative ID, a private search tool Search, and automated personal data removal system Incogni. The team behind Surfshark is focused on new products and innovations in the consumer privacy and security sector.
Nord Security was founded in Lithuania in 2012 by co-founders and co-CEOs Tom Okman and Eimantas Sabaliauskas. The goal was to create internet security and privacy tools that are easily accessible to everyone. Now Nord Security’s suite of products is trusted by millions of consumers worldwide and a range of businesses. Nord Security operates in over 20 markets and employs around 2,000 professionals globally.
Warburg Pincus has invested over $22 billion in technology companies since inception and is one of the most active growth investors in enterprise technology and cloud-based platforms. The notable technology investments include Avalara, Infoblox, NEOGOV, and Salsify. One of the core areas of focus is in backing growing cybersecurity companies, including investments in Aura, Bitsight, Contrast Security, Crowdstrike, eSentire, and Zimperium.
KEY QUOTES:
“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.”
— Tom Okman, co-CEO and co-founder at Nord Security
“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.”
— Eimantas Sabaliauskas, co-CEO and co-founder at Nord Security
“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.”
— Chandler Reedy, Managing Director, Head of Strategic Investments, and Co-Head of Business Services, who also joins Nord Security’s board
