Montréal-based Flare has raised $30 million USD to expand its AI-driven cybersecurity software across North America and Europe. Led by Base10 Partners, with backing from Fonds de solidarité FTQ and returning investors, the funding will scale Flare’s threat monitoring platform and grow its 100-person team.
Flare’s software detects leaked credentials and dark web activity, using AI to proactively reset passwords and alert security teams. CEO Norman Menz highlighted its effectiveness, claiming a 98% accuracy rate in identifying cyber threats. Founded in 2017, Flare’s solutions now serve sectors beyond finance, including health, tech, and pharmaceuticals.
Want to know more? Check out the source code on BetaKit.