Why we invested: Nord Security

Post on 21 July 2022 by John Greger & Luisa Frank

BPI invests in Nord Security, a cybersecurity company offering security and privacy solutions for consumers and businesses.  

Nord Security is a global leader in internet privacy and security solutions. The company was founded in Vilnius, Lithuania in 2012 and offers a broad product range supporting consumers and businesses in increasing the security of their online networks, information, and accounts. With NordVPN, the team has developed a long standing and highly known and trusted brand as a mass-market VPN building the core of the product suite. This product suite furthermore includes a password manager (NordPass), encrypted cloud storage (NordLocker), network access security (NordLayer) and is being expanded on a continuous basis. With Surfshark, an additional consumer brand has been added to the Nord Security portfolio that is supporting on the same goals in providing easy to use tools to increase consumer security and privacy with leading products that are easily accessible for everyone.

BPI has developed cybersecurity as one of the core investment verticals in late 2020. This is driven by the extraordinary demand in solutions to the ever-growing theme of more operations moving online, which garners a higher amount and more sophisticated cyber-attacks globally. Giving consumers and SMBs a chance to defend themselves and their privacy online, Nord Security has developed a product range to tackle those issues and provide for a radically better internet. With the investment in Nord Security, we at BPI are adhering to our general investment thesis, which is to invest in growth stage consumer companies operating on a platform model. As an established company, ready for further growth in existing and new markets, Nord Security fits perfectly into our investment target and has immediately sparked our interest based on the superiority of the product, brand and team.

Nord Security had the chance to pick and choose their investors for this first ever outside funding round. BPI was interesting to the company, as our expertise in internationalization and localization, marketing and brand building, and doubling down on growth opportunities has the potential to add significant value to the future plans of the company. Additionally, strong expertise in cybersecurity and privacy with existing shareholdings in i.e., Ghostery and Brave add further relevance to our investor profile. The close network of more than 250 companies of the Burda Group, one of them being CHIP, helped the BPI team to form an educated view on the space with market experts sharing their knowledge and insights from years of work with the leading tech players. With Nord Security, we have the chance to back the second tech unicorn in Lithuania next to Vinted, which we are proudly invested in since it’s Series C funding round in 2015.

“We are glad to partner with such industry professionals as BPI, which not only has a diverse range of partners but also places cybersecurity as its investment focus, aligning with the vision we have as a company. We believe that the team’s expertise, experience, and contacts will help us excel with our cybersecurity solutions by expanding Nord Security product offering and reach. We are sure that BPI will be a great team player in ensuring a more trusted and peaceful online future for people everywhere.“

Tom Okman, Co-founder at Nord Security