Investors valued NordVPN developer at $3 billion – Kommersant
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Today, September 28, the Lithuanian company Nord Security – the developer of the popular VPN service NordVPN – reported that it has raised $100 million from investors. The company notes that its investor valuation has almost doubled since its first external round of funding in April last year. Then Nord Security was valued at $1.6 billion, now at $3 billion. The main investor in the current round of financing was the American investment company Warburg Pincus.
Nord Security was established in Vilnius in 2012. The company now operates in more than 20 markets and has about 2 thousand employees. According to Nord Security co-CEO Tom Oakman, the company’s good performance is helped by the growing popularity of various services in the field of cybersecurity and the great concern of users with such issues. He noted that Nord Security makes a profit, but, however, refused to provide specific data on its financial results.
Mr. Oakman said that the company intends to use the raised funds to expand the range of its products and purchase other companies. Last year, Nord Security already bought VPN developer Surfshark (the transaction amount was not disclosed). Mr. Oakman also said last week that Nord Security might pursue an IPO “at some point.”
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