Cybersecurity Funding

ZeroFox to Go Public in $1.4 Billion SPAC Deal

Social media threat protection firm ZeroFox, announced on Monday that it would acquire incident response services firm IDX and become a publicly traded company via Merger with L&F Acquisition Corp.

Mike Lennon

December 20, 2021

ZeroFox provides an AI-powered platform that protects users and brands from social media-sourced threats. The platform analyzes millions of pieces of publicly-accessible content in platforms such as Microsoft 365, G Suite, LinkedIn, Facebook, Slack, Instagram, and Apple and Google mobile app stores — looking for potential threats such as account compromise, fraudulent profiles, business email compromise and spear-phishing on digital platforms.

Upon closing of the transaction, the combined company will be renamed ZeroFox Holdings and have more than 650 employees and serve nearly 2,000 customers.

The company is expected to be listed under the ticker symbol “ZFOX”.

According to the announcement, the combined company is expected to have a pro forma equity value of approximately $1.4 billion, assuming no redemptions, resulting in over $250 million of cash on the combined company’s balance sheet.

ZeroFox, which has raised more than $154 million in funding, was founded in 2013 by Chris Cullison, Evan Blair, Hillary Herlehy (chief people officer), James Foster (CEO), and Robert Francis.

Written By Mike Lennon

For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Latest News

Click to comment

Mapping Threat Intelligence to the NIST Compliance Framework Part 2

How threat intelligence is critical when justifying budget for GRC personnel, and for threat intelligence, incident response, security operations and CISO buyers.

Landon Winkelvoss

Password Dependency: How to Break the Cycle

Hackers rarely hack in anymore. They log in using stolen, weak, default, or otherwise compromised credentials. That’s why it’s so critical to break the password dependency cycle. But how can this be done?

Torsten George

Why CISOs Make Great Board Members

Cybersecurity-related risk is a top concern, so boards need to know they have the proper oversight in place. Even as first-timers, successful CISOs make for successful board members.

Galina Antova

A Change in Mindset: From a Threat-based to Risk-based Approach to Security

A threat-based approach to security often focuses on a checklist to meet industry requirements but overlooked the key component of security: reducing risk.

Marie Hattar

Secrets to a Good Security Webinar or Conference Presentation

Tips for making a presentation that will help improve the state of security programs and reflect favorably on the presenters and their companies

Joshua Goldfarb

Application Security

Source Code Security Firm Cycode Launches With $4.6 Million in Funding

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Eduard KovacsSeptember 24, 2019