Lithuania-based internet privacy and security software provider Nord Security has secured $100m from investors including media company Hubert Burda in its first external round.
Novator Ventures led the round with backing from General Catalyst and private investors Miki Kuusi, Ilkka Paananen and Matt Mullenweg. It valued Nord at $1.6bn while Hubert Burda Media participated through its growth equity arm, Burda Principal Investments.
Founded in 2012, Nord Security provides a range of privacy and online security products for consumers and businesses across areas such as virtual private networks (VPNs), encrypted cloud storage and network access security.
Proceeds from the round will be used to expand Nord’s business, product range and footprint, as well as supporting SurfShark, the VPN provider with which Nord merged in February this year. It had bought another, Atlas VPN, in October 2021.
Novator Ventures managing partner Birgir Már Ragnarsson is joining Nord’s board in conjunction with the funding.
Nord’s co-founder and co-chief executive, Tom Okman, said: “Ten years ago, we set out to create security and privacy tools which would help create a safer and more peaceful online future. Today, 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.”
