Flare announced that it has secured $30 million in new capital to support its continued global expansion, product innovation, and strategic acquisition roadmap. The funding includes a $15 million Series B extension led by Inovia Capital’s Growth Fund, with participation from Base10 Partners and White Star Capital, as well as $15 million in debt financing from BMO. With this latest round, Flare has raised $60 million over the past year.
The Montreal-based company has continued to record triple-digit annual growth as organizations work to consolidate external cybersecurity risk capabilities under Threat Exposure Management. Flare plans to utilize the funding to enhance its Identity Exposure Management components within its TEM platform and to pursue acquisitions that expand its market reach and product depth.
In 2025, Flare introduced customer identity integrations that automate validation and remediation for exposed credentials and account sessions found in illicit cybercrime environments. In a recent Forrester Total Economic Impact study, customers reported reductions in breach likelihood and operational efficiency gains, highlighting identity-centric capabilities as key contributors to core value.
The funding also follows Flare’s international expansion, with the company now supporting clients in more than 50 countries. The company has strengthened its presence in Europe, including the establishment of operations in the United Kingdom, and has reported a 136 percent year-over-year growth in the EMEA region.
Flare emphasized that the convergence of threat intelligence, digital risk protection, exposure validation, and identity-centric controls is reshaping cybersecurity programs, with TEM emerging as the framework that integrates these components. The company aims to play a pivotal role in defining and advancing this category as enterprises seek to mitigate external risks and respond more effectively to emerging threats.
KEY QUOTES:
“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. This investment will fuel continued product development and enable strategic acquisitions that strengthen our ability to deliver exceptional security outcomes for our customers.”
Norman Menz, CEO of Flare
“Flare is uniquely positioned to shape the future of TEM. 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 organizations stay ahead of evolving risks.”
Hugues Lalancette, Partner, Inovia Capital
“Flare represents one of Canada’s emerging technology success stories. 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.”
Jonathan Larose, Senior Director, Technology Banking, Growth & Innovation, BMO
