ZeroFox

CybersecurityUSA

New to Unitard

🤝 Acquired

Peak $1.4 BillionToday

~-75%

from peak

🦄
Became a unicorn
2022
📈
Peak valuation
$1.4 Billion ’22
💔
Became a Unitard
2022
💸
Last valuation
~$350M

Current status

Taken private by Haveli Investments in May 2024 at ~$350M ($1.14/share), far below its 2022 SPAC valuation

The rise & fall

6 moments · 2013–2025

The key moments, with employee sentiment along the way.

2013

Founded in Baltimore

James Foster's startup watches social media and the dark web for threats to brands and executives; NEA, Highland Capital and Silver Lake Waterman back it.

Wikipedia

Aug 2022

The peak: a $1.4B SPAC listing$1.4B

The external threat-intelligence firm goes public on the Nasdaq at about $1.4B — unicorn and peak in the same summer.

SecurityWeek

2022

Out of the club by year-end

The debut valuation doesn't survive its first months of trading as the stock sinks toward a dollar.

SecurityWeek

May 2024

Taken private by Haveli for ~$350M$350M

$1.14 a share — about a quarter of the valuation it listed at less than two years earlier.

GlobeNewswire

2024–25

From the inside · Glassdoor reviews, 2024–25

Glassdoor reviews tracked the slide from inside: staff described morale and culture dipping after the private-equity takeover, abrupt layoff waves within weeks of the deal, trimmed perks, and roles migrating offshore as the new owners cut costs.

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

ZeroFox is a US cybersecurity company specializing in external threat intelligence and digital-risk protection — monitoring social media and the dark web for threats to brands and executives. It went public on the Nasdaq in August 2022 via a SPAC merger valued at about $1.4B; the stock quickly fell below $1, and in May 2024 private-equity firm Haveli Investments took it private at roughly $350M, about a quarter of its debut valuation.

Source: SecurityWeek / GlobeNewswire / Wikipedia (external-cybersecurity/threat-intelligence firm backed by NEA, Highland Capital and Silver Lake Waterman; went public via a ~$1.4B SPAC merger in Aug 2022; the stock slid below $1, and PE firm Haveli Investments took it private in May 2024 at ~$350M / $1.14 per share)