Vilnius, Lithuania, April 7, 2022 – Security North, a global leader in internet privacy and security solutions, today announced that it has raised $100 million in funding led by Novator Ventures, with participation from Burda Principal Investments and General Catalyst, to enable consumers and businesses secure online networks, information and accounts. Founders and angel investors including Ilkka Paananen (CEO, Supercell), Miki Kuusi (CEO, Wolt) and Matt Mullenweg (CEO, Automattic) also joined the round. The investment will be used to expand Nord Security’s product suite and company footprint, while accelerating the growth of consumer cybersecurity company Surfshark, which Nord Security partnered with in early 2022.
Technology is changing rapidly – and with every opportunity there is often a new threat. Rapid digitization has accelerated the adoption of devices and platforms that allow data to be shared more widely than ever before, while increasing society’s appetite for online and interconnected technologies and networks. Consumers and businesses are now exposed to increased cyber risks as the corporate security perimeter blurs due to remote working and internet infrastructure struggles to keep pace. It is already estimated that cybercrime Cost the global economy to $10.5 trillion by 2025, and nearly half of consumers today wait be hacked. It is clear that to protect consumers, businesses and the wider digital economy over the long term, a more holistic approach to online security is needed.
Nord Security’s mission is to build a radically better Internet and restore trust in digital networks, securing consumer and business accounts, networks, and information from advanced cyber threats. The company, which launched the mainstream consumer VPN category with NordVPN, aims to help consumers and businesses boost their security and privacy with a holistic suite of products, which enable consumers and businesses to analyze, detect and contain threats at the edge of a network before they penetrate sensitive end-user devices.
All of Nord Security’s products leverage its global success in the consumer market and incorporate the best in convenience, user experience, adaptability and manageability features at a fraction of the cost and time of traditional solutions. In the same way NordVPNNord Security’s suite of purpose-built, intuitive Internet security and privacy products includes North Pass (password manager), NordLocker (encrypted cloud storage), and NorthLayer (network access security).
In February 2022, Nord Security partnered with Surfshark, one of the most popular consumer cybersecurity companies in the world. This new investment will play a key role in accelerating Nord Security and Surfshark’s shared vision of providing people with modern privacy and security solutions. Surfshark’s product suite includes consumer VPN, antivirus, Alert (online data breach detector), Search (privacy search), and Incogni (data deletion tool for online databases) .
Nord Security was founded in Lithuania in 2012 by Tom Okman (co-CEO) and Eimantas Sabaliauskas (co-CEO) to create an internet security and privacy tool easily accessible to everyone. Today, Nord Security’s suite of products is trusted by millions of consumer users worldwide, as well as many enterprises, including Calendly, Adobe, Shutterstock and Vinted, for advanced protection against complex and complex threats. scalable. Nord Security, which operates in 20 countries around the world, continues to grow rapidly with more than 200 open positions and a 50% year-over-year workforce growth.
The investment will be used to make key hires at all levels and across all functions, adding to Nord Security’s 1,700-person team. Nord Security will also use the new funding to accelerate the expansion of its product suite and geographic footprint through growth through acquisitions and intensive R&D on new platform features.
Tom Okman, co-CEO and co-founder of Nord Security, mentioned:
“Ten years ago, we set out to create security and privacy tools that 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 seeded to date, 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 our aspiration to build an internet radically better. We are also honored to play a role in helping Lithuania, a fiercely enterprising country, usher in a new era of technological innovation.
Birgir Már Ragnarsson, Managing Partner at NOvator Ventureswho joins Nord Security’s board of directors, added:
“Modern internet security requires an entirely new approach to address the secular growth in risk from expanding data regulations and ever-escalating cyber threats. Tom and his team are well positioned to deliver and usher in the new era of internet security with a suite of powerful, best-in-class privacy and security tools designed to protect information, accounts and networks.It’s rare to find a company that can already demonstrate such a track record, brand credibility and an unwavering focus on customer service, so we are delighted to partner with Nord Security to support the team in implementing their vision at scale.
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About North Security
Nord Security is home to advanced security solutions that share Nord values, including the world’s most advanced VPN service NordVPN, next-generation password manager NordPass, encrypted cloud storage NordLocker, advanced security solution network access NordLayer and consumer cybersecurity company Surfshark. Founded in 2012, Nord Security now has over 1,700 employees and serves millions of users worldwide. More information: nordsecurity.com
About Novator Ventures
Novator Ventures is an international growth equity fund. It seeks to identify disruptive trends driven by digitalization or technological innovation, and then select high-quality disruptive companies that are driving these secular changes in their respective industries. Novator Ventures offers founders and/or management teams the opportunity to capitalize on the back of a committed, knowledgeable and supportive investor. Among others, Novator Ventures’ previous investments include Zwift, Monzo, Tier, and AppLovin.
About Burda Principal Investments
Burda Principal Investments (BPI) provides long-term growth capital to fast-growing consumer digital and technology companies. BPI is a division of Hubert Burda Media, one of Europe’s largest media and technology conglomerates with a strong track record of investing in internet-centric businesses, since 1998. At BPI, we have partnered with entrepreneurs visionaries, leveraging capital, brands and industry expertise, particularly in the areas of business expansion, internationalization and localization. BPI is invested in a portfolio of very successful and fast-growing digital and technology companies in Europe, the United States and Asia, including Vinted, Bloom & Wild, Carsome, Moneybox, Zapp, Billease and many others.
About General Catalyst
General Catalyst is a venture capital firm that invests in powerful, positive change that lasts – for our entrepreneurs, investors, employees, and society. We support founders with a long-term vision that challenges the status quo, partnering with them from seed to growth and beyond to build companies that stand the test of time. With offices in San Francisco, Palo Alto, New York, London and Boston, the company has helped support the growth of companies such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara , Snap, Stripe and Warby Parker. For more: www.generalcatalyst.com
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