ZeroFox goes public in a $ 1.4B SPAC - TechCrunch deal

ZeroFox goes public in a 14B SPAC TechCrunch

ZeroFox, a start-up cybersecurity information threat threat company that helps companies detect threats found on social media, has announced plans to become a public trading company through a merger with the white check company L&F Acquisition.

As part of the deal, Maryland-based ZeroFox - which has raised more than $ 154 million in funding since its inception in 2013 - will acquire IDX, a consumer privacy platform that claims to be the largest provider America of Data Breakdown Response Services.

The company’s technology will be combined with the ZeroFox platform, an AI-powered service that aims to protect organizations from threats such as scams, malicious links and account hijacking, to become a cybersecurity provider that ‘addressing the full lifecycle of external cyber threats and threats to their customers. ”

“Since ZeroFox was established in 2013, we have helped companies deal with security challenges that are emerging as a result of the transformational transition to the 'all digital' world. This rapid digital transformation has made companies vulnerable to attackers, and the highest disruption rate the industry has ever seen, ”said ZeroFox chief executive James Foster. “We believe that external cybersecurity must be a top priority and part of the security tech stack vital for top information security officers as firewalls and internal termination agents are not sufficient for assets and employees. -protect the company. ”

When the deal closes, the company will be collectively renamed ZeroFox Holdings and will have more than 650 employees and nearly 2,000 customers. The company is expected to be listed under the ZFOX ticker symbol, and the expected equity value of the merged groups is around $ 1.4 billion.

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