Great domain name improved credibility, and Aura has cashed in as its business grows.
The threat of cybercrime increases as more business is conducted online. According to figures from the FTC, cybercrime and fraud cost Americans $3.3 billion in 2020 alone, an increase of nearly $1.5 billion over 2019.
Finding measures to counteract cybercrime has been the focus of many companies, made easier by the abundance of funding in the cybersecurity industry. TechCrunch reports that $11.5 billion in venture capital financing was poured into cybersecurity startups in the first half of 2021, up from $4.7 billion in the same period in 2020.
One recipient of hundreds of millions of dollars of funding is Aura, which touts itself as “the new standard in digital security.” Founded in 2019, Aura has rapidly gained momentum thanks to its suite of digital products aimed at securing the cyber-lives of its global user base.
Aura’s virtual shop window can be found at Aura.com, but the company didn’t start life with this domain.
In July 2020, Elliot Silver reported that Aura acquired its exact-match domain, Aura.com, upgrading from AuraCompany.com. Silver’s article quotes Lark-Marie Anton, an Aura spokesperson, as saying:
Acquiring the aura.com domain is an investment in the Aura brand as we grow our business and build the best all-in-one digital protection platform for consumers.
While the purchase price of Aura.com has never been revealed, there has been speculation that this was a seven-figure acquisition. Whatever the cost, the company recognized that Aura.com was a key asset for its company going forward.
As a consumer-facing company offering a service for a monthly fee, trust is important. But, since Aura provides products such as identity theft protection, password management, and financial transaction monitoring, gaining a consumer’s trust isn’t just important. It’s crucial.
Acquiring Aura.com was a vital step in the company’s ability to gain the trust of what is now a vast customer base. I believe that owning Aura.com has directly contributed to Aura’s success.
Since acquiring Aura.com in July 2020, Aura has gained momentum as its digital security product set becomes more popular. To date, the company boasts more than one million customers and generates over $220 million in annual revenue.
This week, Aura announced its latest funding round, with $200 million raised. The round values Aura at $2.5 billion, a staggering feat for a company created just two years ago.