US Cybersecurity Firm Aura Heads to ASX Through Qoria Merger
Synopsis
Qoria Aura ASX merger will create AXQ after a US$100 million raise, subject to shareholder and regulatory approvals.
Aura's acquisition of Qoria will deliver a backdoor ASX listing, creating a digital safety business with an implied valuation of approximately US$2.1 billion.
U.S.-based cybersecurity and digital safety firm Aura will make an Australian Securities Exchange debut upon its merger with the ASX-listed Qoria in a transaction approved by shareholders, the court and regulatory bodies.
The deal under which Aura will be listed on the ASX values the merged business at roughly US$2.1 billion ($3 billion), according to regulatory filings.
The Qoria Aura ASX merger (AXQ) follows a US$100 million capital raise for the merged entity by Aura's Chairman Sujay Jaswa and founder and CEO Hari Ravichandran, which raised most of the capital.
Just prior to the transaction, Aura completed US$89 million in Series G funding that post-money valued the company at US$1.6 billion.
ASX listing expands international footprint
Once complete, Qoria will become an all-owned subsidiary of Aura, a U.S. Company formed to bring together brands that include identity protection, scam prevention, parental controls, schools’ online safety and students’ well-being.
The group will be servicing customers in Australia, New Zealand, North America, the UK and Europe.
The combined company currently has more than nine million families in the U.S. And touches over 20% of schools, according to company statements.
At closing of the transaction, the combined business had more than US$300 million in annual recurring revenue (ARR). In 2025, Aura’s ARR was US$216 million, while its statutory revenues were US$192.5 million.
Qoria reported that its ARR increased 25% to A$145 million year-over-year and that its underlying EBITDA improved to A$15.4 million.
Growing demand for digital safety services
The transaction occurs amid soaring spending on cybersecurity as individuals, governments and corporations struggle to cope with the growing global security threats.
Annual end-user spending on information security, at US$213 billion worldwide, will grow throughout 2026, a new forecast by global information technology research firm Gartner says.
The merging of Aura's consumer platform and Qoria's education arm will allow the business to acquire customers in several markets, Ravichandran told Australian media.
The merged entity would be able to provide safety on the web at home, school and the office and reinforce its presence abroad, said Qoria managing director, Tim Levy. The Qoria Aura ASX merger (AXQ) still requires customary approvals before it is traded on the ASX under a proposed new ticker.
Source: Capital Brief
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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