Flare, a player in Threat Exposure Management (TEM) and a Deloitte Technology Fast 50 winner, has raised an additional $30 million to supercharge its growth and innovation efforts. The round includes a $15 million Series B extension led by Inovia Capital’s Growth Fund, with participation from Base10 Partners and White Star Capital, alongside $15 million in debt financing from BMO. This brings Flare’s total funding to $60 million in just one year.
The additional funding follows global expansion in 2025, with Flare now supporting customers and partners in more than 50 countries. Growth in Europe has been notable, with the company establishing a base of operations in the UK and achieving 136% year-over-year growth in the EMEA region.
Looking ahead, Flare intends to pursue strategic M&A opportunities to strengthen its technology stack and accelerate its product roadmap.
Strengthens identity defence
Founded in 2017 by Mathieu Lavoie, Israël Hallé, and Yohan Trépanier Montpetit in Montreal, Canada, Flare has evolved from a promising cybersecurity startup into a global force in digital threat intelligence and exposure management.
With cyberattacks becoming more sophisticated, identity exposure has emerged as one of the most urgent challenges in enterprise security. Its latest updates automate the validation and remediation of exposed credentials and account sessions detected across the dark web and cybercrime forums, helping organisations close critical security gaps before attackers can exploit them.
A recent Forrester Total Economic Impact (TEI) study found that Flare customers enjoy a 25% lower chance of severe breaches and $167,000 in annual labor savings, thanks to its automation and early-warning capabilities. These figures reflect Flare’s growing influence as a key player in reshaping how companies mitigate digital identity risks.
What’s next?
Flare’s platform combines one of the industry’s most extensive cybercrime databases with a seamless, intuitive interface, enabling users to detect, prioritise, and act on high-risk exposures quickly. This balance of intelligence and usability has made Flare a preferred solution for businesses seeking to stay ahead of threat actors.
As cyber risks continue to evolve, Flare’s vision remains clear: empowering organisations worldwide to reclaim the information advantage and take proactive control of their digital security future.
“Securing this additional capital marks an important milestone for Flare as we fast-track development and expand our leadership of the TEM market,” said Norman Menz, CEO of Flare. “We believe multiple external cybersecurity use cases—ranging from traditional threat intelligence to digital risk protection and exposure validation—are converging under TEM. This investment will fuel continued product development and enable strategic acquisitions that strengthen our ability to deliver exceptional security outcomes for our customers.”
“Flare is uniquely positioned to shape the future of TEM,” said Hugues Lalancette, Inovia Capital Partner. “The company’s execution and momentum speak for themselves, and we’re excited to support a team that continues to push the boundaries of how cybersecurity intelligence is delivered, helping organisations stay ahead of evolving risks.”
“Flare represents one of Canada’s emerging technology success stories,” said Jonathan Larose, Senior Director — Technology Banking – Growth & Innovation at BMO. “The company’s growth trajectory and commitment to innovation highlight the strength of Canada’s cybersecurity ecosystem. We’re proud to support Flare as it scales globally and continues to showcase the kind of world-class innovation that Canada can bring to the international stage.”
