Aura Raises $150 Million Series E Led by Warburg Pincus Jun 9, 2021
Financing will advance Aura's technology and fuel company's rapid growth
BURLINGTON, Mass., June 9, 2021 /PRNewswire/ -- Aura, a leading provider of comprehensive digital security for consumers, today announced a $150 million Series E funding round led by Warburg Pincus, a leading global growth equity firm. Chandler Reedy, Managing Director and Head of Strategic Investments, Warburg Pincus and Brian Chang, Managing Director, Warburg Pincus, will join the Aura board of directors. Aura has raised a total of approximately $450 million to date from investors including Accel, General Catalyst and WndrCo, in addition to Warburg Pincus.
Aura has demonstrated consistent growth over the past year, following the successful acquisitions of digital privacy and personal digital security companies Intersections, Pango, FigLeaf and Privacy Mate. The company's award-winning offerings are trusted by more than 1.7 million customers today, generating more than $220 million in annual revenue. And today, the company introduced its flagship product, Aura, which combines its best-in-class assets to deliver comprehensive digital security to consumers, featuring identity theft, financial fraud and device protection in a single, easy-to-use platform, backed by white-glove customer service.
"The rise of digitization and with it, digital crime, is fueling a rapidly expanding market opportunity for personal digital security with a total available market of more than $100 billion. In the first quarter of 2021 alone, identity theft grew more than 130 percent, driven by a dramatic increase in government benefits fraud -- up nearly 4,000 percent," said Hari Ravichandran, Founder and CEO, Aura. "At Aura, we're working to bring peace of mind to consumers that their families are protected from financial crime."
"We are seeing cybercrime rise at an unprecedented rate. Criminals are becoming increasingly sophisticated and criminal schemes are becoming increasingly complex across multiple vectors. The personal digital security marketplace has many point products. However, there is a clear need for a comprehensive solution to protect consumers against this growing threat," said Chandler Reedy. "Aura is targeting that gap with an all-in-one solution that makes digital security simple for consumers."
Brian Chang added, "We look forward to partnering with Hari and his talented team whose innovative technology enables customers to seamlessly navigate their cybersecurity needs. Our investment in Aura complements and underscores our thesis-driven approach to investing in highly sophisticated cybersecurity platforms."
With this new investment, the company will focus on enhancing its customer experience, growing the user base of the new Aura product, accelerating development of new features and implementing programs to increase consumer awareness through a national advertising campaign.
Aura is a mission-driven technology company dedicated to creating a safer internet for everyone. We believe that people should be able to live with the peace of mind that their identity, online accounts and devices will remain safe, private and protected, no matter where they go. With an easy to use, integrated suite of services trusted by millions, Aura makes comprehensive digital security accessible to all. Visit www.aura.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $60 billion in private equity assets under management. Warburg Pincus has invested more than $22 billion in technology companies since inception and is one of the most active growth investors in enterprise technology and cloud-based platforms. Notable technology investments include Avalara, Infoblox, NEOGOV and Salsify among others. One of the firm's core areas of focus is in backing growing cybersecurity companies, including investments in Bitsight, Contrast Security, Crowdstrike, Cyren, eSentire, Zimperium. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $90 billion in over 930 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.