VPN provider Nord Security raises $100M to build internet privacy

Nord Security Ltd., a provider of internet privacy and security tools that’s best known for its virtual private network NordVPN, said today it has raised $100 million in funding, bringing its valuation to $1.6 billion.

The round was led by Novator Ventures, with participation from Burda Principal Investments and General Catalyst. Angel investors, including Ilkka Paananen, chief executive of Supercell Oy, Miki Kuusi, CEO of Wolt Enterprises Oy, and Matt Mullenweg, CEO of Automattic Inc., also participated in the round.

Nord Security claims to be the pioneer of mass-market consumer VPNs with its NordVPN tool, which it says has helped thousands of consumers and businesses around the world to enhance their security and privacy on the web.

Besides NordVPN, the company offers a purpose-built internet security and privacy suite that includes NordPass, a password manager, NordLocker, an encrypted cloud storage services, and NordLayer, which provides network access security for businesses.

The company reckons its products are used by millions of consumers across the world, plus businesses such as Adobe Inc., Shutterstock Ltd. and Calendly LLC, to name a few.

In February, Nord Security announced it had joined forces with the Dutch VPN provider Surfshark B.V. The two companies say they have a shared vision of providing consumers and businesses with a full range of modern privacy and security services. Surfshark offers a consumer VPN, plus antivirus, online data breach detection, privacy search and data deletion services for businesses.

Today’s round marks the first time Nord Security has tapped outside investment and it said it’s doing so to fuel a rapid expansion that has seen it grow its staff headcount by more than 50% in the last year. The company already counts more than 1,700 employees and plans to add yet more team members, with more than 200 open positions it’s currently looking to fill.

Aside from new hires, the money will also be used to finance an expansion of the company’s product suite and geographic footprint. It plans to do that via acquisitions and intensive research and development.

“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,” said Nord Security founder and CEO Tom Okman.

Image: Nord Security

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