💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Lithuania's Nord Security raises $100 million at $1.6 billion valuation

Published 07/04/2022, 00:02
Updated 07/04/2022, 00:21
© Reuters.

STOCKHOLM (Reuters) - Nord Security, the company behind NordVPN, said on Thursday it has raised $100 million in its first external investment round from Novator Ventures, Burda Principal Investments and General Catalyst at a valuation of $1.6 billion.

Chief Executives of video game maker Supercell, food delivery firm Wolt and web developer Automattic also joined the funding round, which made NordVPN the second tech unicorn in Lithuania.

Virtual private networks (VPNs) such as NordVPN helps is online privacy by encrypting data and obscure where a user is located.

Founded in 2012 by Tom Okman and Eimantas Sabaliauskas, Nord Security plans to use the new funds to hire more staff, invest in research and expand its product suite.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.