Three years after the surge of SPAC (Special Purpose Acquisition Company) activity, the market has cooled significantly. However, the trend hasn’t entirely disappeared, with some companies continuing to use SPACs to go public. One notable example is Cyabra, an Israeli firm specializing in monitoring social network discourse and combating fake news. This week, Cyabra announced that it plans to be listed on Nasdaq through a business combination with Trailblazer Merger Corporation (NASDAQ: TBMC). The entity expects to begin trading on Nasdaq in early 2025, valuing Cyabra at $70 million.

Cyabra has made significant strides with its AI-based system, which is employed by corporations and governments to detect risks, attacks, and malicious activities on social networks. The company’s technology played a role in analysing bot activity on Twitter during Elon Musk’s acquisition of the platform. Additionally, during the early stages of the conflict in Gaza, Cyabra’s technology was instrumental in locating missing persons through photo analysis and data usage. The World Economic Forum has highlighted disinformation as a major short-term risk to humanity, predicting an impact of $78 billion in the coming years.

Dan Brahmy, Cyabra’s CEO and co-founder along with Yosef Dar and Ido Shraga, emphasized the importance of their mission. Mike Pompeo, a board member and former CIA Director and US Secretary of State, praised Cyabra’s efforts in safeguarding digital spaces and promoting free and fair discourse. Pompeo stated, “Cyabra’s efforts not only protect our digital space but also strengthen the fundamental values of free and fair discussion. Cyabra’s contribution is very valuable in the fight against hostile elements that try to harm our democratic institutions.”

Brahmy highlighted Cyabra’s commitment to combating disinformation, declaring, “This week, we are taking the fight against disinformation to the next level. Cyabra is going to be the first public company dedicated to the fight against disinformation.” He believes the timing is ideal due to recent changes in online threats, particularly those influenced by AI. Brahmy added, “Going public gives Cyabra a public and financial platform to fight the bad guys.”

Founded in 2018, Cyabra currently employs 57 people and has raised $16 million to date, according to IVC data. Its investors include prominent names such as Founders Fund, OurCrowd, and TAU Ventures.

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