Lithuanian Tech Leader Nord Security Sets Sights on IPO‑Readiness

The Lithuanian cybersecurity champion, Nord Security, has charted a remarkable path from decade‑long bootstrapping to unicorn status, now actively preparing for potential public markets. With a current valuation reportedly around USD 3 billion, the company boasts a workforce of nearly 1,700 across Europe, and serves millions of users globally.

Unexpectedly, Nord Security only recently raised external capital: the first major outside funding arrived in 2022, followed by another growth round in 2023. Despite this, the founders have stressed that they retained strong internal profitability and self‑funded momentum for years. Their narrative flips the typical VC‑driven scale story, showing how value can be built before big external injections.

What’s especially noteworthy is their IPO preparedness. The company says its corporate governance, financial reporting, and regulatory readiness are in place, essentially “IPO ready” within a six‑month window if they decide the timing is right. Yet, they also make clear that going public is not an immediate goal; the choice will hinge on strategic rationale rather than market pressure.

For Lithuania and the broader Baltic tech ecosystem, Nord Security’s journey is instructive on multiple levels. It proves that:

• Bootstrapping followed by selective capital raises can lead to high growth and valuation.

• Strong governance and public market readiness matter even if a listing hasn’t yet occurred.

• A high‑end global cybersecurity firm can emerge outside traditional tech hubs and still contend on the world stage.

For investors, entrepreneurs and regional ecosystem builders, the lesson is clear: being “IPO‑ready” is no longer just about public listing, it’s about building discipline, scale, leadership and vision. Nord Security may choose to list one day, but meanwhile it is already acting like a public‑class business in private‑company form.