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

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.

(Reporting by Supantha Mukherjee in Stockholm; editing by Niklas Pollard)