Aura, a global digital security platform, was founded by CEO Hari Ravichandran after his personal data was stolen online. Recognizing a gap in the market, Ravichandran sought to create a holistic security solution, amalgamating features like antivirus, account monitoring, and password management. Renowned entrepreneur Jeffrey Katzenberg, previously associated with Disney and Dreamworks Studios, is a significant figure on Aura’s board and is a vocal advocate for the platform. On this episode of The Small Business Show, Katzenberg and Ravichandran discuss Aura’s capabilities and how entrepreneurs can safeguard their businesses from cyber threats.
Katzenberg emphasizes the increasing dependency on the internet, yet often, digital security lags behind, risking both individual and business security. Notably, with artificial intelligence innovations, the urgency for robust cybersecurity becomes paramount.
Since 2019, Aura has assisted users in warding off cyber threats. Katzenberg projects the company’s revenue could reach $300 million soon. Particularly for businesses, digital security is vital. With SMBs digitizing their operations to remain competitive, they’re exposed to the darker sides of the internet. In 2021, digital fraud cost businesses $7.7 billion. A significant portion of breaches result from employee mistakes, leading to daily encounters with viruses and spam. Federal regulations further push dealerships towards stringent digital security practices.
Consumers too are at risk. Inadequate security can leak their data, causing legal repercussions and eroding trust. Both Ravichandran and Katzenberg urge businesses to adopt advanced digital security measures. The transition from traditional crimes to sophisticated digital fraud necessitates businesses, especially in the auto sector, to prioritize cybersecurity. For those unfamiliar with the digital terrain, platforms like Aura offer a comprehensive starting point.