Flare Systems aggregates and normalizes millions of data points from darknet sources — including broadcasts of stolen information, private forum discussions, chat posts, and cryptocurrency transactions — and combines them with criminology research to supply intelligence to financial crime teams. Its platform automatically structures and organizes signals to give a holistic view of the cyber attack chain and enable collaboration between cybersecurity, fraud, and compliance teams. The company sells to financial institutions and security service providers and currently reports seven recurring clients and three financial institutions as either clients or proof of concept. Flare plans to expand its roll-out across Canada and the U.S., accelerate ongoing AI R&D, build new product features, and develop complementary products. The startup is also pursuing European expansion through partnerships with managed security service providers and has a proof of concept underway with a bank in Luxembourg. Team growth and establishing thought leadership in Europe are cited as near-term priorities.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2019