WordPress founder and others inject $100m into NordVPN owner
Funds will be used to expand Nord Security’s product suite and enterprise footprint
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Nord Security, the company behindNordVPN, has announced that it has raised $100m in a financing round led by Novator Ventures with participation from Burda Principal Investments and General Catalyst.
Alongside these investment firms, founders and angel investors including Supercell CEO Ilkka Paananen, Wolt CEO Miki Kuusi andAutomatticCEO Matt Mullenweg also joined the round which marks the company’s first time ever raising outside capital at a $1.6bn valuation.
Nord Security plans to use these funds to further expand its product suite and enterprise footprint while also accelerating the growth of the consumer cybersecurity companySurfsharkwhich itjoined forces withearlier this year.
One of the reasons for Nord Security’s continued growth is that both businesses and consumers are dealing with more cyber risks than ever before. In fact, it’s estimated thatcybercrimewill cost the global economy $10.5tn by 2025 while nearly half of consumers now expect to be hacked. To deal with these increased threats, a more holistic approach to online security is required.
Doubling down on its mission
When Tom Okman and Eimantas Sabaliauskas foundedNord Securityin Lithuania back in 2012, they did so to create an internet security and privacy tool that was easily accessible for everyone.
Now that this has been accomplished, the company’s mission is to build a radically better internet and restore trust in digital networks by securing consumer and enterprise accounts, networks and information against advanced cyberthreats.
NordVPN wants to help you test the speed of your VPN connection>How to automate NordVPN the easy way>Cybersecurity beyond VPN: an inside look at NordVPN’s Threat Protection
Building on the success of NordVPN, Nord Security has also added apassword manager(NordPass), an encryptedcloud storageservice (NordLocker) and a network access security product (NordLayer) to its offerings to help users secure their passwords, files and networks.
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Co-CEO and co-founder,Tom Okamanpraised the company’s new investors in a press release and explained how they will help Nord Security achieve its mission, saying:
“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. We’re also humbled to play a part in helping Lithuania, a fiercely entrepreneurial country, enter into a new era of technological innovation.”
After working with the TechRadar Pro team for the last several years, Anthony is now the security and networking editor at Tom’s Guide where he covers everything from data breaches and ransomware gangs to the best way to cover your whole home or business with Wi-Fi. When not writing, you can find him tinkering with PCs and game consoles, managing cables and upgrading his smart home.
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