With a Series E round of $150m led by Warburg Pincus, the digital security platform Aura has closed its latest round of financing.
A portion of the proceeds from the round will go towards improving the RegTech company’s customer service, growing its user base, developing new features, and implementing programs to increase customer awareness through a national advertising campaign in order to enhance its sales.
There is a US-based company named Aura that offers online protection for people’s identity, finances, online accounts, and devices. The app will inform users if their online accounts and passwords are at risk as well as if a fraud has taken place in their accounts through the app. As a result of this insurance policy, users are also covered with $1M insurance against losses or damage caused by fraud or identity theft.
In addition to the investment round, the company has enjoyed a strong year of growth, which culminated in a revenue of over $220 million and more than 1.7 million customers by year’s end. There have also been several acquisitions by Aura in the past year, including Pango, FigLeaf, and Privacy Mate, all of which are related to digital privacy and personal digital security.
There is a massive potential market for personal digital security with a total available market of more than $100 billion in the coming years as the rise of digitization and as a result, digital crime, drive a rapidly expanding market opportunity. There has been a large increase in identity theft in the first quarter of 2021, driven by a dramatic increase in government benefits fraud, which has grown by nearly 4,000 percent over the same period last year.
We at Aura are working hard to make sure that consumers are protected from financial crime, so they can feel confident in their decision to choose us.”
As a result of the investment, Chandler Reedy, managing director and head of strategic investments at Warburg Pincus, and Brian Chan, managing director at Warburg Pincus, have joined the board of directors of Aura.
In total, the cybersecurity company has raised $450m in capital with the completion of its Series E round of financing. Accel, General Catalyst, and WndrCo are some of the investors that back the company.
Digital security platform Aura has closed its Series E round on $150m, which was led by Warburg Pincus.
It’s great to have your money helping out an ecommerce company that is helping other companies and the general public through the use of technology.
Aura protects people from online threats by helping them secure their identity, financial information, online accounts and devices.
Its app helps users keep track of their online accounts and passwords, so that they’ll never have to worry about fraud again.
It also covers each user with up to $1 million in personal insurance to cover losses and damage caused by identity theft or fraud.Keratinization of squamous cell carcinoma: a morphometric analysis of keratocytic differentiation of head and neck carcinomas.
The investment round comes after a strong year of growth for the company, which culminated in $220 million in annual revenue and 1.7 million customers.
Aura’s acquisitions have included several digital privacy and personal digital security companies in the past year.
As digital crime is growing, the rise of digital security is a growth opportunity. With the right products, you can protect yourself from malicious content and online fraud. There are over a hundred million products on the market that claim to help consumers protect themselves online, but not all products work the same.
Identity theft, which is on the rise, has grown in size and scope. At Aura, we are working to bring peace of mind to consumers that their families are protected from financial crime.
With the close of the Series E, the cybersecurity company has raised a total of $450 million in capital.
There are many companies that are investing in this space, including Accel, General Catalyst and WndrCo.
