# Monq Lab SIA

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/monq-lab-sia

- Industry: IT Security/Cybersecurity
- Headquarters: Riga, Latvia
- Website: www.monqlab.com
- Total disclosed funding: $1.5M
- Latest round: Seed (Jan 19, 2022)
- Investors on record: 1

## About

Founded in 2019 and based in Riga, Latvia, Monq Lab SIA develops an AIOps platform to detect and prevent failures in IT environments around the world. The company was the winner of Cybersecurity Challenge 2020 and Startup Village 2020. Clients of the company include companies from the banking, public, retail, telecom, insurance, fuel, and energy sectors, such as the Moscow Government and Tinkoff. In January 2022 the company announced USD 1.5 million raised from its seed round led by Ratmir Timashev. 

Monq works with IT professionals and provides an AIOps topology- based automation platform that analyzes data from different monitoring systems, automatically discovers topology, controls application and infrastructure health, provides rapid root cause analysis, and starts incident remediation processes while maintaining security. 

The company generates revenue by offering subscription plans with extra features on top of its free plan.

The seed round funding from January 2022 will be used to expand sales and operations into North America and EMEA.

## Funding rounds

- Seed, Jan 19, 2022, $1.5M — New Nordic Ventures

## Investors

- New Nordic Ventures (https://capitalatlas.ai/funds/new-nordic-ventures) — Seed