ZeroFox, a social media threat protection firm, has begun trading on the Nasdaq Stock Market following a SPAC deal that combines it with incident responses firm IDX.
According to Security Week, the combined firm is now called ZeroFox Holdings and will trade under the ticker symbol ‘ZFOX’ for its common stock and ‘ZFOXW’ for its publicly traded warrants.
The company provides an AI-powered platform that protects users and brands from social media-sourced threats. The platform analyses millions of pieces of publicly-accessible content in platforms such as Microsoft 365, G Suite, LinkedIn, Facebook, Instagram and Apple, looking for potential threats such as fraudulent profiles and account compromise amongst others.
When the SPAC deal was first revealed last December, the combined platform was expected to have a pro-forma equity value of around $1.4bn. The company has raised more than $154m in funding since it was founded in 2013.
The company currently has more than 650 employees and serves close to 2,000 customers.
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