Parent company of NordVPN raises $3bn in latest funding round

2023-10-02 18:21:18

NordVPN Parent Company Secures $100 Million Funding, Valuation Hits £2.3 Billion

In a recent funding round, cybersecurity firm Nord Security, the parent company of NordVPN, has successfully raised $100 million. The funding was led by private equity company Warburg Pincus, with participation from existing investors such as Novator Ventures and Burda Principal Investments. As a result, Nord Security's valuation has skyrocketed to an impressive £2.3 billion.

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NordVPN, the flagship product of Nord Security, is recognized as one of the world's leading virtual private network (VPN) providers. In addition to NordVPN, the company also offers other security solutions such as NordPass (a password manager), NordLayer (network access security software for businesses), and NordLocker (encrypted cloud storage).

This substantial investment will enable Nord Security to further expand and enhance its product portfolio, catering to the evolving needs of both consumers and businesses. The company plans to focus on strategic mergers and acquisitions to drive growth and innovation in the cybersecurity sector.

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Tom Okman, co-CEO and co-founder of Nord Security, emphasized the company's commitment to prioritizing online privacy and security. He stated, "Through this funding round and the invaluable expertise of our investors, we are excited to establish Nord as a trusted name synonymous with robust cybersecurity solutions for individuals and organizations alike."

Chandler Reedy, managing director and head of strategic investments at Warburg Pincus, will join the board of directors at Nord Security following this funding round. Reedy expressed confidence in Nord Security's business model and long-term prospects. He mentioned that Warburg Pincus, with its extensive experience in the cybersecurity sector, will provide support to Nord Security as it continues to navigate the complex market landscape.

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Expanding Offerings and Achieving Remarkable Growth

With solid financial backing, Nord Security aims to forge ahead with its plans for innovation and expansion. The company's consistent focus on addressing evolving cybersecurity challenges has already yielded impressive results. Less than two years ago, Nord Security secured its first external investment, raising $100 million and achieving a valuation of £1.3 billion. Since then, the company has nearly doubled its valuation, cementing its position as a leading player in the industry.

The success of NordVPN and Nord Security's other products reflects the increasing demand for reliable and comprehensive cybersecurity solutions. With data breaches and online threats becoming more prevalent, individuals and businesses are seeking robust measures to safeguard their digital activities.

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As the cybersecurity landscape continues to evolve, Nord Security remains committed to keeping pace with emerging trends and technologies. By consistently prioritizing user privacy and delivering top-notch security solutions, Nord Security aims to set new industry standards and redefine online protection.

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