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Baltimore’s ZeroFox cybersecurity firm raises $74 million

ZeroFOX CEO James Foster outside its headquarters, a renovated former Pabst Brewing bottling facility in South Baltimore.
ZeroFOX CEO James Foster outside its headquarters, a renovated former Pabst Brewing bottling facility in South Baltimore. (Lloyd Fox / Baltimore Sun)

ZeroFox, a Baltimore-based cybersecurity firm, announced Thursday that it raised $74 million in a funding round led by Intel Capital.

The company, based in the old Pabst Brewing bottling plant on Charles Street in South Baltimore, will use the latest round of venture capital funding to accelerate its expansion around the world and continue developing its artificial intelligence capabilities.

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ZeroFox specializes in developing tools to help companies detect and protect against cyberattacks through social media, a growing threat to companies as social media becomes a part of everyday business.

“This round of funding led by Intel Capital, one of the most respected investors in the world, and our new artificial intelligence development partnership with Intel via the Intel AI Builders program, solidifies ZeroFOX’s market leadership in next-generation protection," said ZeroFox CEO James C. Foster in the announcement. "With this new infusion of capital, we will accelerate our AI innovation, strengthen our intellectual property, and further our international expansion — all in service of our mission: protecting the world’s leading organizations from targeted digital attacks.”

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The latest round brings ZeroFox’s total funding to more than $162 million. Besides fresh funding from Intel Capital, ZeroFox also received additional funding from existing investors, including New Enterprise Associates, Highland Capital Partners, Redline Capital Management, Hercules Capital and Core Capital.

“ZeroFOX has established itself as the global leader in the public attack surface protection marketplace,” said Anthony Lin, Interl Capital’s vice president and senior managing director. “We’re looking forward to collaborating with the company to accelerate its strategic expansion globally and its compelling technology roadmap.”

ZeroFOX was founded in 2013 and now employs 250. In addition to its Baltimore headquarters, it has offices in London, Chile and India. Its last big funding round came in 2017 when it raised $40 million.

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