Flare, a Canadian cybersecurity company specialising in TEM has announced a $30m funding round to accelerate its growth.
The Series B extension includes $15m in equity led by Inovia Capital’s Growth Fund, alongside participation from existing investors Base10 Partners and White Star Capital. It also features $15m in debt financing from BMO. The new investment brings Flare’s total funding to $60m over the past year.
Flare’s platform focuses on Identity Exposure Management within the broader TEM landscape, helping organisations reduce risks associated with compromised credentials and account takeovers. The company’s solutions combine dark web monitoring, exposure validation, and digital risk protection to enable proactive cybersecurity strategies.
The latest funding will allow Flare to advance its product development, expand its leadership in TEM, and pursue mergers and acquisitions to enhance its technology stack and global reach. The company also plans to double down on innovation around identity exposure management, supporting customers in mitigating credential-related risks.
Flare CEO Norman Menz said, “Securing this additional capital marks an important milestone for Flare as we fast-track development and expand our leadership in the TEM space. 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.”
The company’s identity-focused integrations, launched earlier this year, were highlighted in Forrester’s Total Economic Impact (TEI) study, which reported a 25% reduction in the likelihood of severe breaches and $167,000 in annual quantified labour benefits for customers.
Inovia Capital partner Hugues Lalancette said, “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 organisations stay ahead of evolving risks.”
Flare has recently expanded its operations to more than 50 countries, achieving 136% year-over-year growth in EMEA, supported by its UK team. This growth highlights the company’s ability to meet the rising global demand for scalable and proactive TEM solutions.
BMO senior director – technology banking – growth & innovation Jonathan Larose said, “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.”
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