Cyber firm Nord Security raises $100M and becomes Lithuania’s second tech unicorn
07 April, 2022, 21:57
Nord Security, a Vilnius-based cybersecurity firm best known for its VPN product, has raised $100 million. NordVPN developer has become the county’s second tech unicorn at a $1.6 billion valuation, CNBC reports.
- Nord Security develops the NordVPN product, which has millions of users worldwide. Besides, the company works on a password manager NordPass and an encrypted cloud storage NordLocker. The company was founded in Vilnius in 2012.
- Nord Security claims to be the biggest tech employer in Vilnius. Its team includes 1,700 people, and the company is planning to hire 200 more.
- The $100 million investment came from Novator Ventures, Burda Principal Investments, General Catalyst, and some angel investors. Novator Ventures led the funding round.
- The other Lithuanian unicorn is a second-hand clothes marketplace Vinted. According to Crunchbase, the company had a valuation of $4.5 billion in 2021.
- The fresh funding will help Nord Security expand beyond the 20 countries with current operations.