UNITED STATES
                             WASHINGTON, D.C. 20549

                        REPORT OF FOREIGN PRIVATE ISSUER

                      PURSUANT TO RULE 13a-16 or 15d-16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                          For the month of August 2003

                             Commtouch Software Ltd.
                 (Translation of registrant's name into English)

                                1A Hazoran Street
                      Poleg Industrial Park, P.O. Box 8511
                              Netanya 42504, Israel
                    (Address of principal executive offices)

                  Indicate by check mark  whether the  registrant  files or will
file annual reports under cover of Form 20-F or Form 40-F.

                      Form 20-F   X        Form 40-F
                                -----                -----

                  Indicate by check mark whether the  registrant  by  furnishing
the  information   contained  in  this  Form  is  also  thereby  furnishing  the
information  to the Commission  pursuant to Rule 12g3-2(b)  under the Securities
Exchange Act of 1934.

                         Yes                No   X
                             -----             -----

                             COMMTOUCH SOFTWARE LTD.
                                    FORM 6-K

Forward-Looking Statements

This  Report  on  Form  6-K  contains  forward-looking   statements,   including
projections  about our  business,  within  the  meaning  of  Section  27A of the
Securities Act of 1933 and Section 21E of the  Securities  Exchange Act of 1934.
For example, statements in the future tense, and statements including words such
as "expect," "plan,"  "estimate,"  anticipate," or "believe" are forward-looking
statements.  These  statements are based on  information  available to us at the
time of the  Report;  we  assume  no  obligation  to  update  any of  them.  The
statements in this Report are not  guarantees of future  performance  and actual
results could differ  materially  from our current  expectations  as a result of
numerous factors,  including business  conditions and growth or deterioration in
our  market,  commerce  and  the  general  economy  both  domestic  as  well  as
international;  fewer  than  expected  new-partner  relationships;   competitive
factors including pricing pressures;  technological  developments,  and products
offered by  competitors;  availability  of qualified  staff for  expansion;  and
technological  difficulties and resource  constraints  encountered in developing
new products as well as those risks described in the company's Annual Reports on
Form 20-F and reports on Form 6-K, which are available through

Second Quarter 2003 Results

Attached  hereto  and  incorporated  by  reference  herein is our press  release
announcing the results of Q2 for 2003.

Furthermore,  the balance sheet is presented  below,  on a pro forma as adjusted
basis,  to give  effect  to the sale of  5,546,667  ordinary  shares  in the two
private placements  announced on July 16th and August 4th at the prices of $0.50
and $0.60, respectively.


                             COMMTOUCH SOFTWARE LTD.


                               (USD in thousands)

                                                      June 30,     June 30,     December
                                                      --------     --------     --------
                                                      2003         2003         31, 2002
                                                      ----         ----         --------
                                                      Actual       Pro Forma    Actual
                                                      ------       ---------    ------
Current Assets:
 Cash and cash equivalents                            $1,034       $4,074       $1,388
 Trade receivables, net                                   --           --           64
 Prepaid expenses and other accounts receivable          145          145          231
                                                      ------       ------       ------
 Total current assets                                  1,179        4,219        1,683
                                                      ------       ------       ------
Long-term lease deposits                                   5            5            5
Equity investment in Imetrix                             240          240            3
Severance pay fund                                       311          311          264
Property and equipment, net                              698          698        1,029
                                                      ------       ------       ------
                                                      $2,433       $5,473       $2,984
                                                      ------       ------       ------
Liabilities and Shareholders' Equity
Current Liabilities:
 Accounts payable                                        347          347          338
 Employees and payroll accruals                          615          615          424
 Accrued expenses and other liabilities                  281          281          372
                                                      ------       ------       ------
 Total current liabilities                             1,243        1,243        1,134
                                                      ------       ------       ------

 Other liabilities                                       135          135          135
 Convertible loan                                        568          568           --
 Accrued severance pay                                   328          328          278
                                                      ------       ------       ------
                                                       1,031        1,031          413
                                                      ------       ------       ------

 Shareholders' equity                                    159        3,199        1,437
                                                      ------       ------       ------
                                                      $2,433       $5,473       $2,984
                                                      ======       ======       ======


Information Incorporated by Reference

The information in this Report on Form 6-K is incorporated by reference into all
Registration  Statements which we have filed or which we will file in the future
under the Securities Act of 1933, as amended, which permit such reports to be so



         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                            COMMTOUCH SOFTWARE LTD.

Date August 27, 2003                        By
                                                 Devyani Patel
                                                 VP Finance


                                  Exhibit Index

Exhibit Number                    Description of Exhibit

1                                 Press release of August 21, 2003