Monarx, a cybersecurity software firm with headquarters in Salt Lake City, Utah, has raised $6.1 million in funding to provide website and online app security to thwart attacks.
Monarx is a web hosting security solution that uses proprietary AI-powered technology to automatically defend websites from attack or convert malicious activity into high-quality, targeted leads that are generated on-time and at a profit for web hosting companies like Hostinger, InMotion Hosting, and Axarnet.
“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.”
said Monarx CEO Jeremy Warren.
The funding round was led by Signal Peak Ventures (Salt Lake City). Kickstart Fund (Salt Lake City), Pelion Venture Partners (Salt Lake City), and Crosscut Ventures (Los Angeles) also participated in the round.
The business intends to use the new funding to assist it further fuel partner growth.
According to the business, Monarx’s strategy is 17X less resource-intensive, significantly less dangerous, and far more effective than the nearest competition.
Furthermore, Monarx’s distinct AI-powered technology prevents 35% more malware and has 69X fewer false positives than the closest competitors.
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