Monarx, a Salt Lake City, Utah-based cybersecurity software company that provides website and web app security to protect against attacks, raised $6.1 million in funding.
The round was led by Signal Peak Ventures, with participation from Pelion Venture Partners, Kickstart Fund, and Crosscut Ventures. Monarx will use the funds to further fuel partner growth.
The company’s easiest-to-deploy solution enables hosting providers the choice to automatically protect against attacks on websites and/or monetize malware by detecting malicious activity and selling automatic protection to site owners.
Its unique AI-powered technology blocks more malware and has way fewer false positives than any other tool - 35% more and 69X fewer, respectively, than the closest competitors.
"I’m excited to have Ben joining our team, as he brings tremendous experience and credibility in cybersecurity,” said Monarx CEO Jeremy Warren. "These are challenging times for a lot of technology companies, but I’m proud that we’ve been able to keep growing successfully by focusing on solving core problems and driving concrete value for our hosting partners. Thanks to Ben and all of Signal Peak for recognizing what we’ve built and choosing to join us as we continue on our mission to secure the world’s websites."
Company: Monarx, Inc.
Funding Month: March 2023
Lead Investors: Signal Peak Ventures
Additional Investors: Kickstart Fund, Pelion Venture Partners, and Crosscut Ventures
Company Website: https://www.monarx.com/
Software Category: Security Solution
About the Company: Monarx is a security solution for web hosting, with proprietary AI-powered technology that automatically protects websites from attack, or transforms malicious activity into high-quality, targeted, timely leads that drive revenue for web hosting providers such as Hostinger, InMotion Hosting, and Axarnet. Monarx protects web environments against attack, through a cloud-delivered server protection software that provides continuous real-time malicious script detection and proactive prevention along with an integrated hunting and remediation engine.