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Monarx Closes $6.1M Funding Round Led by Signal Peak Ventures to Fuel Partner Growth
SALT LAKE CITY -- March 13, 2023 -- Monarx is the most effective 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 hosters.
Signal Peak Ventures led the $6.1M funding round, with Pelion Venture Partners, Kickstart Fund, and Crosscut Ventures also participating. Pelion, who led Monarx's initial funding round, was the original lead investor in the cybersecurity company Cloudflare. Monarx will use the money to help it further fuel partner growth.
“Monarx has created impressive new technology that actually protects websites effectively, while other tools don’t,” said Signal Peak Managing Partner Ben Dahl. “We’ve seen how the right combination of tech and business model can open up huge new opportunities in cybersecurity, and we love how Monarx is doing that in web hosting.”
Monarx’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. This flexibility allows them to fit the solution to their exact business model and replace less effective alternatives. The approach is significantly more effective, substantially less risky, and 17X less resource-intensive than the closest competitor. Moreover, Monarx’s 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."
Monarx is the #1 most effective security solution for web hosting providers such as Hostinger International, InMotion Hosting, and Axarnet (Your.Online). Monarx’s revolutionary technology is consistently proven to detect & prevent more malicious activity than other tools – proactively, automatically and safely. Hosting providers around the world save more time & money with Monarx and drive extra revenue by reselling active protection to their customers.
About Signal Peak Ventures
Signal Peak Ventures is a private equity and venture capital firm with more than $500 million of committed capital under management. The firm focuses on making equity investments in early-stage technology companies in emerging markets. Signal Peak is typically a SaaS investor targeting companies with differentiated and disruptive business models, exceptional management teams, and large addressable markets.