• Lithuanian cyber security unicorn Nord Security gets injected with another USD 100M of investment
• The company offers a continuously expanding suite of cyber security tools, the flagship VPN solution NordVPN being a global household name
• The new investment will allow the company to keep expanding its product offering, including through M&As

This September, Lithuania’s unicorn cyber security solution provider Nord Security has secured another USD 100M of investment. Warburg Pincus led the round, joined by the company’s loyal investors Novator Ventures and Burda Principal Investments. Today, Nord Security’s valuation counts at USD 3B.

The Long Road to the VPN We Know

The company was founded a little over a decade ago, but it has been a long journey until the co-founders Tom Okman and Eimantas Sabaliauskas came up with an idea that brought us Nord Security as we see it today. To be precise, they list as many as 34 less successful attempts at developing technology products before landing on the idea of creating a VPN (virtual private network) solution called NordVPN.

At that time, both co-founders were working jobs related to information technology and using VPN solutions for their work. They decided that the existing solutions were less functional and sophisticated than they could be, so they took it on themselves to develop a better product to improve the cybersecurity and privacy of internet users worldwide. In 2013, they released the first version of the NordVPN solution.

The team states that the ‘Nord’ in the name was inspired by ideals of confidence, trust, and innovation cultivated in the Nordic region. It was meant to reflect the company’s value of its customers’ freedom of choice and its strive for innovation in both technology and ethos.

From Geeky Stuff to Mass Use

‘At that time, VPN was considered to be ‘geeky stuff,’ used mainly by technology professionals or various specialists in their working environment, but the co-founders believed that VPN could be beneficial to every internet user to achieve better cybersecurity and privacy. Over the decade, VPN has become a must-have security solution, with NordVPN being a leader in the industry,’ Nord Security’s CTO Marijus Briedis notes.

Today, VPN solutions have come to bring apparent benefits even to the mass users worldwide – from accessing content that’s not available in a particular region to simply adding a layer of security to their data. A vivid example is how people in the territories of Ukraine under Russian occupation can use VPN to access Ukrainian sources of information, banned in Russia, without fear of getting tracked by ISPs and authorities.

Newest Feature

Recently, Nord added a new feature to the Threat Protection cybersecurity solution to protect users from cyber threats raised by vulnerable software. The vulnerability detection feature checks Windows computers for vulnerable applications and notifies users about their security flaws so preventive measures can be taken.

Meshnet is Nord Security’s another recent addition. It is an encrypted virtual network that allows multiple devices to connect and communicate with one another directly, even when they are located in different parts of the world. Meshnet makes it possible for people to access resources and services on each other’s devices, securely share files or set up LAN for gaming without cables.

Overall, users are welcome to keep an eye on NordLabs – the company’s platform for experimental products and cutting-edge innovations. This is where the Nord Security team explores emerging technologies like AI to create new tools and services. The first experimental project, called Sonar, is already available for registered users. Sonar is based on the large language model technology used by ChatGPT, and it warns users on how likely the email they received is a phishing scam.

Over the years, Nord Security also increased its cybersecurity product offerings by introducing such complementary solutions as its password manager NordPass and its network access security software for businesses NordLayer to ensure better security online.

According to Mr Briedis, Nord Security has always been driven by the mission of making a radically better, safer and more free internet for everyone. By developing an all-encompassing tool that guards users’ online traffic, offers breach alerts, combats malware downloads, and aids in removal from data broker lists, Nord Security has made an undeniable contribution to elevating industry standards over the past decade.

To Withstand the Growing and Evolving Cyber Security Threats

That said, cyber security threats to consumers and businesses are not only constantly growing but also evolving.

‘In many parts of the world, state-sponsored cyberattacks represent a growing concern as regional tensions have escalated the risk of cyberattacks with political and economic motives. Technologies such as artificial intelligence, quantum computers, and others, which are only finding their way into the market now, will increase the level of cyber threats and require different technological solutions to counter them,’ Mr Briedis points out.

An example of the new cyberthreats is the government-related cyberactivity coming from the East Asian region. Olga Voloshyna, Chairperson of the Committee on IT and Cyber Security of the German-Ukrainian Chamber of Industry and Commerce, quotes a report by the Microsoft Threat Analysis Center (MTAC) that highlights cyber threats coming from China where Chinese cyber groups connected to the state engage in cyber espionage against governments and organizations of critical importance in the Southern Chinese Sea region.

‘To secure against cyber threats and safeguard vulnerable audiences, it is crucial to establish partnerships between governmental and private sectors. Cooperation with startups in the field of cyber security can contribute to the innovation and improvements in the field of overall security, which has a significant meaning for solving today’s challenges,’ Ms Voloshyna points out. (read Ms Voloshyna’s op-ed on the topic).

To prepare for the future and open growth possibilities, Nord Security secured the investment and strategic partnership with a top-tier Wall Street investor Warburg Pincus. The new investment will help to expand Nord Security’s product offering further. This includes accelerating growth through strategic mergers and acquisitions, allowing the company to enhance consumer and business customers’ security continuously.

‘Nord Security’s key priority is to continue addressing the needs of our users by bringing market-leading innovative features and a holistic approach towards consumer and business cybersecurity needs. It’s too early to talk about new Nord products, but we continue adding cybersecurity features to our existing products,’ Mr Briedis tells ITKeyMedia.

In a world where an increasing amount of cybersecurity threats is emerging, Nord Security continues exploring possibilities to curb developing technologies to address rising cybersecurity threats.