A VPN company just became Lithuania’s second tech unicorn

Digital firm Nord Security declared Thursday that it has raised $100 million from financial backers at a $1.6 billion valuation, making it Lithuania’s second tech unicorn.

The organization is most popular for its VPN item, NordVPN, which costs around $140 per year or $12 every month.

VPNs, or virtual private organizations, permit clients to camouflage their web-based character while they peruse the web. They can likewise assist web clients with getting to obstructed sites and administrations. Other VPN organizations incorporate Turbo VPN and UFO VPN.

Established in Lithuania’s capital of Vilnius in 2012, Nord Security’s group currently remains at 1,700 individuals and it is selecting a further 200 staff. It professes to be the greatest tech business in Vilnius, where 500,000 of Lithuania’s 2.8 million individuals reside.

The interest in Nord Security comes from Novator Ventures, Burda Principal Investments, General Catalyst and private supporters including the fellow benefactors of recycled garments commercial center Vinted, which is the main other tech firm in Lithuania esteemed at more than $1 billion.

Tom Okman, co-CEO and prime supporter of Nord Security, let CNBC know that this is whenever the organization first has taken outside subsidizing, adding the cash will assist Nord Security with growing its impression past the 20 nations that it presently works and fabricate more items.