Auror raises AUD $72.6m to tackle retail crime globally

Auror has secured AUD $72.6 million in a Series C funding round to boost its research and development and expand internationally.

The funding round was led by Reinventure Australia, Axon Enterprise, and W23 Global. This financial backing aims to address the challenges posed by increasing retail crime and violence in Australia and globally. The retail crime reporting and intelligence software company, which counts Coles, Bunnings, and Woolworths among its clients, has witnessed a significant rise in demand as Australian retail crime rates surged by 135% in the past year.

The technology, which is available to 150,000 retail users globally across 45,000 stores, allows for swift reporting of theft and violence, thus fostering tighter collaboration between retailers and law enforcement. With around 32,000 law enforcement users, Auror's platform is enhancing policing strategies and contributing to safer communities.

Phil Thomson, Co-Founder and CEO of Auror, stated, "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."

The capital raised will be instrumental in Auror's expansion into North American and UK markets, alongside further development in research and development efforts. Based in Auckland, where it has its largest team of 150 specialists, Auror operates globally with over 200 employees spread across five countries, including offices in Australia, the US, UK, and Canada.

Axon Founder and CEO, Rick Smith, commented on the partnership, "Axon's mission to protect life extends beyond public safety — to workplaces where frontline workers face real threats. 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."

Support from W23 Global, through its CEO and Chief Investment Officer Ingrid Maes, was strong. "We are excited to be making this investment in Auror. We look forward to supporting their continued international expansion and positive impact on the communities they serve," she said.

Existing investors such as Sydney-based Reinventure continue to support Auror. Managing Partner, Danny Gilligan, reflected on their decade-long involvement with the company, "We first invested in Auror nearly 10 years ago when they were in just a handful of stores in New Zealand. 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."

Phil Thomson further addressed the societal implications of retail crime, "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. 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."