Shift5, a Rosslyn, VA-based onboard data company for commercial and military fleets and weapon systems, raised $33M in funding.
The round, which brought total venture funding to $108m, was led by Moore Strategic Ventures, with participation from Booz Allen Ventures, and JetBlue Ventures, and Teamworthy Ventures.
The company intends to use the funds to expand its Arlington-based office footprint and grow its executive team through the appointment of its inaugural General Counsel, Chief Revenue Officer, and Chief People Officer.
Led by CEO Josh Lospinoso, Shift5 is an onboard data company that defends commercial transportation systems and military platforms against operational failures and OT cybersecurity risks.
The Shift5 platform unlocks onboard OT data and provides modern observability into onboard assets, enabling commercial operators to increase efficiencies and improve the safety of their fleets while helping DoD operators boost fleet readiness, lethality, and survivability. In the last year, the platform processed more than 37 billion messages from its deployments, and identified more than 20 billion unique events occurring at the serial bus level. From these events, Shift5 flagged 1.8 million violations. Among these violations, the system elevated six critical alerts that required action and led to three assets moving from a non-compliant to a compliant status.
Household name aviation companies, U.S. railroads, and fleets within the U.S. military including: U.S. Army, U.S. Navy, U.S. Air Force, U.S. Space Force, and U.S. Special Operations Command, use Shift5 to maintain the readiness and availability of today’s fleets and tomorrow’s assets.
FinSMEs
09/06/2023