Cybersecurity firm Flare Systems Inc., which monitors cybercrime intelligence to identify potential threats and prevent breaches, today announced it has raised $30 million in funding to expand its platform.

The round included $15 million in a Series B extension led by Inovia Capital’s Growth Fund, with participation from Base10 Partners and White Star Capital, in addition to $15 million in debt financing from BMO. The current round brings the total funding raised by the company to $60 million over the past year.

Flare offers an external threat-exposure management platform that continuously collects and analyzes data from across the clear web, dark web forums, Telegram and other cybercrime communities — tracking compromised credentials, stealer-logs and stolen session cookies that could lead to data breaches.

The platform also maps an organization’s externally facing digital footprint, including open cloud buckets, misconfigured hosts, exposed code on repositories such as GitHub and vulnerabilities in third-party supply-chain software. It uses the gathered intelligence and information to deliver critical alerts, risk-prioritization, automated fixes and remediation guidance.

“We believe multiple external cybersecurity use cases — ranging from traditional threat intelligence to digital risk protection and exposure validation — are converging under [threat exposure management],” said Chief Executive Norman Menz.

Flare said that it will use the funding to develop and enhance its recently released Identity Exposure Management capabilities. This year, the company launched proactive defense for exposed customer identities, designed to prevent large-scale incidents.

When high-value account login information is exposed, it leaves an organization vulnerable to attacks. For example, if an administrator’s account is exposed, it means that malicious attackers could easily break into the network, steal sensitive information or install malware.

According to the 2025 Data Breach Investigations Report from Verizon Communications Inc., stolen credentials were involved in 88% of web attacks. Furthermore, the average time it takes for criminals to move from the first compromised system to another is 48 minutes, according to CrowdStrike Holdings Inc.’s 2025 Global Threat Report, a significant drop from 62 minutes observed in 2023.

The faster an organization secures exposed accounts and closes potential breaches, the better its position will be.

Flare said close to 50 million breached identities are traded on the dark web and Telegram weekly. These opportunities provide attackers numerous entrances into business systems through account takeovers.

“Many of the largest breaches in recent years stem from attackers simply logging in,” added Nick Ascoli, director of product strategy at Flare. “At any moment, a newly exposed account represents one of the most critical risks to an organization.”

The additional funding will also allow the company to fuel growth globally. Flare currently supports customers and partners across more than 50 countries. The company noted that European growth has been particularly significant, with Flare establishing a headquarters in the United Kingdom, leading to 136% year-over-year growth.

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