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Nord Security, The Startup Behind Nordvpn, Raises Its First-Ever Funding, $100M At A $1.6B Valuation

Apr 06, 2022•over 3 years ago

Amount Raised

$100 Million

VilniusMedia And EntertainmentSoftware

Description

VPN usage has surged in the last several years, with growing concerns over data privacy and security — and sometimes completely different motivations like people wanting to access content otherwise blocked in their regions — driving an estimated 30% of all internet consumers globally to use a VPN at some point this year. Now Nord Security, the startup behind one of the bigger paid VPN providers, NordVPN, is announcing significant funding at a “unicorn” valuation to build out both its consumer and enterprise business lines to capitalize on that growth.

Company Information

Company

Nord Security

Location

Vilnius, Vilnius County, Lithuania

About

The company has raised $100 million in a round of funding led by Novator — the European firm that’s backed Deliveroo, Stripe, Tier, among others — with Burda Principal Investments and General Catalyst, and individuals including Ilkka Paananen of Supercell, Miki Kuusi of Wolt, and Matt Mullenweg of Automattic also participating. Asked about these events and what the impact has been on Nord, Okman says that the company has been changing over the years to address the different points, and to do better. Internal security teams were increased and the company now goes through regular audits, in partnership with U.S. firm Versprite.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech