Today, we at Flare announced our USD $30M Series B Round led by Base10 Partners with participation from Inovia Capital, White Star Capital, and Fonds de solidarité FTQ.
We have raised CAD $9.5M to this point, and plan for this fresh round of capital to accelerate our growth. We’ve seen consistent traction with triple digit year over year growth in both 2023 and 2024, and want to build upon this. We expect to increase investments in EU expansion while also continuing to further accelerate growth in North America and Europe more broadly to strengthen cybersecurity globally.
“What sets Flare apart is their superior data collection capabilities – providing us with actionable intelligence on attacker-used credentials and target systems that directly informs our testing,” said Kevin Johnson, CEO of Secure Ideas. “The platform integrates seamlessly into our business model, allowing us to deliver more realistic and valuable assessments to our clients. In an industry where staying ahead of threat actors is crucial, Flare’s comprehensive threat intelligence capabilities significantly outperform competing solutions.”
This Series B funding will be instrumental in solidifying our role as the leader in Security Intelligence and Threat Exposure Management for the enterprise and mid-market.
We’ve been focusing on leveraging the latest advancements in language models and advanced data science techniques to extract actionable insights out of one of the world’s most sophisticated cybercrime data sets. Security practitioners can be overwhelmed with the sheer volume of information to parse through, and we strive to empower them with pinpointed, useful intelligence to stay ahead of threat actors.
“Flare’s rapid growth and relentless drive for innovation make it a natural fit for us to partner with them,” said Jason Kong, Partner at Base10 Partners. “Norman and team have taken a unique approach to threat exposure management that raises the bar in cyber intelligence, empowering security teams to stay ahead in an increasingly complex landscape. Flare’s dedication to integrating advanced language models and data science to deliver meaningful, actionable insights aligns for cybersecurity perfectly with our mission to support founders who solve real-world problems for the many, not just the few.”
Integrate the world’s easiest to use and most comprehensive cybercrime database into your security program in 30 minutes.
We’re pretty proud of our Threat Flow module launch in August 2024, which is the security industry’s first transparent generative AI application that delivers timely, relevant, and trustworthy reports of threat actor activity on the dark web, enabling scaled research and reporting for security teams, validated with a 98% accuracy.
Industry analyst and cybersecurity thought leader Richard Stiennon, former Gartner VP and current Chief Research Analyst at IT Harvest, spoke about the impact of our innovations: “With this investment round, Flare is well-positioned to enhance its exposure data collection capabilities and advance the application of generative AI in threat intelligence use cases.”
About Flare
Flare is the leader in Threat Exposure Management, helping organizations of all sizes detect high-risk exposure found on the clear and dark web. Combining the industry’s best cybercrime database with an incredibly intuitive user experience, Flare enables customers to reclaim the information advantage and get ahead of threat actors. For more information, visit https://flare.io.
About Base10 Partners
Founded by Adeyemi Ajao and TJ Nahigian, Base10 is a San Francisco-based venture capital fund investing in founders who believe purpose is key to profits and in companies that are automating sectors of the Real Economy. Through its program the Advancement Initiative, Base10 donates a portion of firm profits to underfunded colleges and universities to support financial aid and other key initiatives. Portfolio companies include Notion, Figma, Stripe, Wealthsimple, SecureFrame, Todyl, and Riot.
