Oxylabs becomes Lithuania's second most valuable private company at $3.6B — TFN

Oxylabs has confirmed an annual run rate of $350 million and announced it has raised $130 million from Warburg Pincus at a $3.6 billion valuation.

This is Oxylabs’ first external funding in ten years, after a decade of growing the company without outside investment.

The round makes it the second Tesonet-incubated company to reach unicorn status, after Nord Security.

For 10 years, Oxylabs turned away outside investors, building an unglamorous proxy business into a company generating hundreds of millions in revenue without ever taking a check.

This week, that changed: the Vilnius-based web data infrastructure company confirmed it has raised $130 million from Warburg Pincus at a $3.6 billion valuation, its first outside investment since its founding in 2015, and disclosed that its annualised run rate has passed $350 million.