NordVPN Parent Reaches Unicorn Status

Nord Security, the Lithuanian cybersecurity firm whose products include the popular NordVPN, completed its first external fundraising round and in the process broke the $1 billion valuation barrier, Nord announced in a Wednesday (April 6) blog post.

The round totaled $100 million, according to Nord, and will help the company add to its 1,700-person  workforce and expand into new markets.

The new investors include venture capital firms Novator Ventures, Burda Principal Investments and General Catalyst, Nord said in the announcement. Angel investors that are part of the round include Supercell Chief Executive lkka Paananen, Wolt Chief Executive Miki Kuusi and Automatic Chief Executive Matt Mullenweg, the announcement states.

Nord Co-Chief Executive and Co-founder Tom Okman is quoted in the blog post as saying, “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.”

“Modern internet security requires a completely new approach to address the secular growth of risks from expanding data regulations and ever-worsening cyberthreats,” Novator Managing Partner Birgir Már Ragnarsson said in the blog post, and praised Nord for its market positioning.

In addition to its VPN, Nord Security sells network security tools, encryption tools and a password manager.