Nord Security raised $100 million from Novator, General Catalyst et al.

Nord Security, Vilnius, Lithiania-based software company known for operating the VPN service NordVPN, announced raising $100 million in equity added in the company's balance sheet.

The money was raised from investors including Novator partners, General Catalyst, Burda Principal Investments and angel investors Ilkka Paananen (CEO, Supercell), Miki Kuusi (CEO, Wolt) and Matt Mullenweg (CEO, Automattic). The deal is said to be made at a valuation of $1.6 billion.

The proceeds will be used to hire more staff, invest in research and expand its product suite.

Nord Security, founded in 2012 by Eimantas Sabaliauskas and Tom Okman, gained notoriety and makes business by selling NordVPN, a tool that helps with the online privacy by encrypting data and obscure where a user is located. The company was previously bootstrapped.