NRD Cyber Security: a cybersecurity company

NRD Cyber Security is a company focused on cybersecurity incident response that has annual turnover of 7 million euros (in 2023). With an office in Bangladesh and its HQ in Vilnius, it employs more than 40 people and has delivered projects in over 40 countries.

NRD Cyber Security was created in 2013 through a spin-off from BAIP (now Novian Technologies) as a cybersecurity consulting business. In 2017, together with Norway Registers Development, it established a Bangladesh office to service South East Asia. Also in 2017 it began developing its own cybersecurity products, and in 2019 it entered the managed security service provider (MSSP) business.

Key People

Legal Structure

Geography & Sectors

NRD Cyber Security business base is in Lithuania with global presence and majority revenues coming from public sector and growing in private and financial sectors.

Gross profit split by geography (millions of euros)

Revenue split by sectors (millions of euros)

*Excluding finance and academic.

Proprietary Products

Natrix – a national and sectorial cybersecurity monitoring and threat hunting platform

CyberSet – a services automation toolkit for Computer Security Incidence Report Teams (CSIRTs) and Security Operations Centres (SOCs)

Growth Targets for 2023-2028

  • Revenue and EBITDA CAGR growth of
  • Share of gross profit from recurring services for product licences and SaaS and MSSP services not less than
NRD Cyber Security has identified three strategic areas for growth by 2028:
  • Revenues from product licenses

    will triple on the strength of the Natrix and CyberSet products and forthcoming developments.

  • Revenues from MSSP services

    will triple based on backlog, historical clients acquisition speed and potential customer pipeline.

  • Revenues from consulting

    will double driven by surging market needs and new service provision models.

Financial Performance

Customer Base

National critical infrastructure
  • National Cyber Security Centre of Lithuania (LT)
  • Ministry of National Defence of Lithuania (LT)
  • Police Department under the Ministry of the Interior (LT)
  • Customs Department under the Ministry of Finance (LT)
  • State Enterprise Centre of Registers (LT)
  • Bangladesh Computer Council (BD)
  • Central Bank of Guyana (GY)
  • Bank of Botswana (BW)
  • Central Bank of Egypt (EG)
  • Uganda Bankers’ Association (UG)
  • Bangladesh Bank (BD)
  • Central Bank of Nigeria (NG)
  • Šiaulių Bankas (LT)
  • GF bankas (LT)
  • Bitė Lietuva (LT)
  • Teltonika IoT Group (LT)
  • Kauno Tiltai (LT)
  • Vakarų Medienos Grupė (LT)
International development organizations
  • European Union Agency for Cybersecurity (EU)
  • International Telecommunication Union (CH)
  • United Nations Office for Project Services (RS)
  • Northern Ireland Co-operation Overseas (UK)
  • Southern African Development Community (SA)
  • Commonwealth Telecommunications Organisation (UK)
  • Geneva Centre for Security Sector Governance (CH)
  • Office of the Commissioner of Electronic Communications and Postal Regulations (CY)

Notable projects

Key Highlights

  • 1
    Leader in the cybersecurity incidence response industry, including the development of standards (contributor to the FIRST CSIRT Services Framework and main author of ENISA guidelines for the establishment of CSIRTs and SOCs and cyber crisis maturity models).
  • 2
    National cybersecurity strategies: design and implementation.
  • 3
    Cutting edge proprietary products: Natrix and CyberSet.
  • 4
    Strong line-up of industry-leading experts.
  • 5
    30% compound annual growth of revenue since the spin off the company (calculated from 2014).

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