Security app AURA gets additional R6m funding
HAVAÍC has led a second round of R6 million equity investment in cloud-based security and safety platform AURA.
The recent funding follows HAVAÍC leading AURA’s R6 million equity investment in 2018.
Founded by Warren Myers in 2016, AURA provides an on-demand geographically variable private security response service from a substantial number of reputable independent armed reaction companies in SA.
The security start-up aggregates the supply of over 250 private security companies with 1 600 armed response vehicles, giving clients access to the largest number of private armed respondents in SA.
Using its technology-driven control room and smartphone GPS-enabled solutions, AURA provides clients with access to the nearest location-specific responder through its nationwide network.
The funding, according to the company, will be used to facilitate its growth in the rest of Africa, and to further cement AURA’s position as a dominant on-demand technology-driven security platform in SA.
AURA CEO Warren Myers explains: “We are very pleased with our relationship with HAVAÍC as over and above the value they have added on the board, their experience in raising capital has helped ensure AURA’s continued success locally and given us the springboard needed to launch our market-first platform in the rest of Africa.”
AURA’s clients include Uber, FirstRand, Outsurance and Momentum.
During an emergency situation, a user activates the mobile panic button via an app, and the closest responder accepts the panic via a responder device. The accepting responder is then navigated directly to the user’s location via GPS.
According to HAVAÍC, AURA’s unique access to data and the ability to predict and actively manage crime prevention, as well as its scalable technology platform, make it an attractive local investment with international potential, thus fitting squarely into HAVAÍC’s investment thesis.
“Having invested in AURA in 2018 and being integrally involved in the business, AURA’s progress and growth is impressive. It has secured numerous large clients and on its current trajectory, is expected to break-even before YE19. However, further growth is expected to accelerate rapidly as it launches its offering into Africa,” says HAVAÍC.