Technology company Auror, which provides the world’s largest retailers and over 3000 law enforcement agencies globally with retail crime reporting and intelligence software, continues its strong growth with the successful close of its AUD74 million Series C capital raise.
The round was led by Axon Enterprise Inc., W23 Global, and Reinventure. It involved a mix of primary capital and secondary transactions that were well supported by current shareholders. Auror plans to use the funds to continue expanding into North America and the UK and invest in additional research and development.
“Our mission remains the same – connecting communities to stop crime, and this latest raise allows us to continue our work around the world, using technology to tackle retail crime at scale, bringing retailers and law enforcement together, and making our communities safer,” said Co-founder and CEO Phil Thomson.
Auror has a global workforce of over 200 across five countries. It is based in Auckland, its largest office, where it has grown a specialist team of around 150 and where its research and development takes place. Other offices include Australia, the US, the UK, and Canada as it seeks to address a global USD162 billion retail crime challenge.
Auror’s refreshed share register has strong international backing with global grocery retail venture capital fund W23 Global and US-based public safety and security technology leader Axon, now taking stakes in the company.
“Axon’s mission to protect life extends beyond public safety – to workplaces where frontline workers face real threats,” Axon Founder and CEO Rick Smith. “By partnering with Auror, a pioneer in retail crime intelligence and incident management solutions, we can strengthen collaboration between retail and law enforcement to help build safer communities for all.”
“We are excited to be making this investment in Auror,” said W23’s CEO and CIO Ingrid Maes. “We look forward to supporting their continued international expansion and positive impact on the communities they serve.”
Axon Enterprise and W23 Global join existing investors such as Sydney-based Reinventure, New Zealand’s Movac, Sir Stephen Tindall’s K1W1, and NZ Growth Capital Partners. New Zealand Trade and Enterprise also supported Auror’s early global expansion via its international growth fund.
“We first invested in Auror nearly 10 years ago when they were in just a handful of stores in New Zealand,” said Reinventure Managing Partner Danny Gilligan. “We invested for two reasons – the founders articulated perhaps the most perfect data network effect we had ever seen and that if they were right, it was too important an impact on society not to support; they have turned out to be very right. This team, the product, and mission are rare and remarkable, and they are achieving great things.”
“Ultimately, retail crime is a city killer – it’s a gateway to organised crime, to unsafe streets, lower property values and as stores close for safety reasons, it restricts access to essential services,” added Thomson. “Its impact on frontline workers is immense. To be able to partner with retailers and law enforcement to address these issues has been humbling and rewarding for our team, and there is more work to do.”
