The funding helps the company attain unicorn status. Here are the top-line bullets you need to know.
Aura, a cybersecurity platform, has raised $150M in a Series E that drew participation from Warburg Pincus.
HOW’S THE COMPANY PERFORMING?
- Massachusetts-based Aura is a digital security technology startup that protects consumers with AI-enabled comprehensive, data-driven products that provide real-time data, privacy, identity, and online security services.
- The company caters to 1.7M customers including Forbes Advisor, Business Insider, Trustpilot, and US News & World Report.
- It has acquired several digital privacy and personal digital security companies over the last year, including Pango, FigLeaf, and Privacy Mate.
- The company reportedly achieved 5X year-on-year growth with annual revenue of over $220M.
- Aura employs 300 people across offices in Massachusetts, Washington, and New Mexico.
WHY DOES THE MARKET MATTER?
- The global cybersecurity market is projected to grow at a CAGR of 14.5% and reach a value of $352.3B by 2026, according to Mordor Intelligence.
- The growing number of complex cyberattacks and the need for secure networks are fueling the growth of the market.
- In 2020, the global cybersecurity spends stood at $124B.
- Several industries including oil & gas, utilities, telecom, aerospace, and defense have been investing significantly in cybersecurity R&D.