Nord Security and Surfshark double valuation to $3B in landmark $100M investment
Nord Security, a renowned global leader in internet privacy and security solutions, has made an exciting announcement on September 28, 2023. Along with Surfshark, the company secured a substantial $100 million investment in a financing round led by Warburg Pincus, a prominent global growth investor. This doubled their value to $3 billion. Existing investors, including Novator Ventures and Burda Principal Investments, are joining them in this endeavor.
In April 2022, Nord Security secured a remarkable $100 million in the inaugural external investment round, valuing the company at $1.6 billion. With this newfound financial support, Nord Security and Surfshark are set to expand their product lineups and gear up the growth through strategic acquisitions. The ultimate goal? To offer even more robust security solutions for their loyal consumer base and business clients.
The role of Nord Security and Surfshark in the cybernet market
Nord Security provides privacy and security tools, delivering cutting-edge cybersecurity solutions for businesses and consumers. The company’s most popular product is the most reliable VPN in the market—NordVPN. They’re also behind the handy password manager NordPass, business-oriented network access security software NordLayer, and secure cloud storage platform NordLocker. The company had been self-funded for a decade before seeking outside capital investment, forging its own path to success it basks in today.
In 2022, Nord Security joined forces with another well-known player in the cybersecurity arena, Surfshark. The company boasts a comprehensive product lineup, featuring a consumer VPN, Antivirus, an online data leak detection system known as Alert, an automated personal data removal system Incogni, an online identity protection tool named Alternative ID, and a private search tool called Search.
Today, Nord Security and Surfshark celebrate the boost in their assets, opening new doors to unexplored avenues in cybernet waters.
A game-changing investment
In light of the recent investment, Tom Okman, a co-CEO and co-founder of Nord Security, expressed: “We are grateful that Warburg Pincus shares that trust and our vision for the future of the internet. We will continue to address the needs of our users by bringing market-leading innovative features, informative marketing, and a holistic approach towards consumer and businesses cybersecurity needs. The new financing round, together with our investors’ experience and know-how, allow us to be in an even stronger position to make the Nord name synonymous with online privacy and security.”
Meanwhile, Eimantas Sabaliauskas, a fellow co-CEO of Nord Security, adds: “Modern cybersecurity requires cutting-edge innovations, and that’s where our talented professionals make Nord Security stand out. Over the years, we focused on fostering a community where driven experts are welcomed and enabled to make radically better internet. The Nord community, made up of individuals from all corners of the globe, work together to make sure that our users can be safer online, every day. And we believe there are many who share our cause and our mission.”
Warburg Pincus’ investment underscores the trend of increasing interest and capital flow into the cybersecurity sector. As cyber threats continue escalating in sophistication and frequency, investors recognize the immense market potential in providing robust digital security solutions. Grand View Research forecasts a rapid cybersecurity market growth, anticipating a $500.70 billion value by 2030.
This investment sends a strong signal to the industry that Nord Security is well-positioned to lead the charge in reliable digital security development. The competition is as fierce as it gets in the already saturated market, so gaining investors’ confidence is a giant leap forward. “Now there are many strategic opportunities open for us, for both organic and inorganic growth,” Okman asserted. Nord Security seems to have met the investment with great ambition and is ready to enter the next stage.
Insights into the promising and secure future
The boost in Nord Security’s valuation will undoubtedly trigger significant developments that will impact both the company and the broader cybersecurity sector. The investment has put Nord Security and Surfshark in the fast lane for innovation. Beyond VPN services, they can now address a range of cybersecurity needs, including tailored solutions for specific industries, and explore emerging areas like machine learning, IoT (Internet of Things), and cloud security.
Nord Security’s collaboration with Warburg Pincus couldn’t have come at a more opportune time, coinciding with the launch of NordLabs. It’s a hub for creativity and innovation, serving as a playground for teams to experiment, develop, and fine-tune cutting-edge cybersecurity formulae. The recently increased financial muscle allows the company to take the ideas and projects incubated in NordLabs to a global audience. Perhaps we’ll see some new products or optimizations in 2024 already.
Expecting in-house growth, attracting more talents
However, the investment is beneficial not only on an industrial scale. In fact, it opens the door to strategic collaborations. They can forge new partnerships with tech firms, industry experts, or threat intelligence providers to advance product developments or expand their lineup with new holistic solutions. Likewise, the company can hire more professionals and expand its in-house infrastructure.
Ultimately, doubling the value to $3BLN within just a year attests to Nord Security and Surfshark’s expertise. It further solidifies the position of the companies and allows them to scale their products and bring about positive changes in the cybernet security industry. Most importantly, as the co-CEOs of Nord Security stated, they can provide protection for privacy to everyone in an approachable manner.
What are your thoughts on the Warburg Pincus investment into Nord Security and Surfshark? Let us know in the comments!
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