Flare, a Montreal, Canada-based threat exposure management (TEM) company, raised $30M in Series B funding.
The round was led by Base10 Partners with participation from Inovia Capital, White Star Capital, and Fonds de solidarité FTQ.
The company intends to use the funds to expands operations and its development efforts.
Flare provides a threat exposure management platform that allows enterprises and mid-market organizations to detect high-risk exposure found on the clear and dark web. Combining the industry’s cybercrime database with an enhanced user experience, the system enables customers to get ahead of threat actors.
In August 2024, the company launched its Threat Flow module – a transparent generative AI application that delivers reports of threat actor activity on the dark web, enabling scaled research and reporting for security teams, validated with a 98% accuracy.
Flare, which has seen consistent traction with triple digit year over year growth in both 2023 and 2024, expects to increase investments in EU expansion and further accelerate growth in North America and Europe more broadly.
FinSMEs
12/12/2024