Threat exposure management (TEM) provider Flare today announced raising $30 million in a funding round that brings the total raised by the company to nearly $70 million.
The investment round includes a $15 million Series B extension led by Inovia Capital’s Growth Fund, with additional support from Base10 Partners and White Star Capital, and $15 million in debt financing, from BMO.
Founded in 2017, Montreal, Canada-based Flare provides organizations intelligence gathered from the clear and dark web, to help them address high-risk exposures.
According to Flare, its TEM platform can help organizations prevent ransomware attacks, data breaches, and other types of security incidents through the monitoring of thousands of cybercrime communities and clear web threats.
The company leverages generative AI, machine learning, and data science to provide tailored intelligence to organizations, and helps them build cybersecurity programs based on their unique needs.
Flare will use the new funding to advance the platform’s Identity Exposure Management (IEM) capabilities that were launched three weeks ago, and to pursue strategic acquisition opportunities.
IEM uses Flare’s integration with Entra ID, along with manual credential validation, to test leaked credentials found on the dark web and in stealer logs, and provides visibility and context into the discovered exposures.
“Securing this additional capital marks an important milestone for Flare as we fast-track development and expand our leadership of the TEM market. We believe multiple external cybersecurity use cases—ranging from traditional threat intelligence to digital risk protection and exposure validation—are converging under TEM,” Flare CEO Norman Menz said.
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