Cyabra announced a definitive agreement for a business combination with Trailblazer Merger Corporation I, a special purpose acquisition company. The merger is expected to result in Cyabra being publicly listed on NASDAQ. Cyabra's technology, developed by veterans from Israeli special operations, uses sophisticated algorithms and advanced data analytics to identify automated bot campaigns spreading misinformation across social media platforms.
We are going public on the Nasdaq!
, Dan Brahmy (@DanBrahmy) July 23, 2024
Six years ago, @TheCyabra was born. 🦉
From day one, our mission has been to restore trust in the online world.
Today, #disinformation is considered one of the biggest threats to our society.
It affects how we think, what we buy, and who we… pic.twitter.com/g6eC3aJAAy
The spread of disinformation is considered one of the most significant short-term risks facing humanity, according to the World Economic Forum's 2024 Global Risks Report. The economic impact of disinformation is estimated at $78 billion. Cyabra's tools are being used by corporations and governments worldwide to detect and mitigate disinformation attacks, protecting citizens and brands from increasingly sophisticated campaigns.
The transaction values Cyabra at a total enterprise value of $70 Million at signing. Upon closing, expected in the first quarter of 2025, the combined company will operate as Cyabra and be listed on NASDAQ. The deal has been unanimously approved by both companies' Boards of Directors and is subject to stockholder approval and other customary closing conditions.
Cyabra was founded in 2017 by Dan Brahmy and Ido Shraga. The startup has raised $16 million in venture capital funding from investors including TAU Ventures, OurCrowd, Founders Fund, Alabaster, Harpoon Ventures, Accomplice, and Red Shepherd Ventures. Their latest funding round closed in the beginning of the year, $5.7 million, led by OurCrowd.
