Shift5
Canvas Category Software : Operational Technology : Cybersecurity
Shift5 was created by founding members of the U.S. Army Cyber Command who pioneered modern weapon systems cyber assessments. Led by proven change makers, Shift5 brings onboard data to light, helping defense, aviation, and rail build and maintain intelligent fleets. The Shift5 platform enables anomaly detection, predictive maintenance, real-time alerting, historical trends, and critical operational insights that go beyond the limits of log files and traditional dashboards.
Assembly Line
Shift5 Draws Investors, Raises $33M in Funding to Unlock Onboard Data in Commercial and Military Fleets and Weapon Systems
Shift5, the onboard data company, today announced it has raised $33 million in additional financing, bringing its Series B round to $83 million. Led by Moore Strategic Ventures, industry stalwarts across defense and commercial aerospace industries including Booz Allen Hamilton’s corporate venture capital arm, Booz Allen Ventures, and JetBlue Ventures, as well as Teamworthy Ventures, participated in the round, bringing the company’s total venture funding to $108 million. The fundraise comes amid significant business momentum; in the last year Shift5 more than doubled its annual recurring revenue (ARR), more than doubled its number of customers across Department of Defense (DoD) and commercial aerospace and rail sectors, and grew the rate of its platform deployments on commercial and DoD vehicles and weapon systems by 1,275%.
Announcing Shift5’s Series B Funding
We announce our $50M Series B round of funding. Insight Partners is leading the round, and we’re thrilled to announce that Nick Sinai, Senior Adviser at Insight will join our board.
At Shift5, our mission is to defend planes, trains, and weapon systems against cyber-physical risks. Insight’s participation is a force multiplier on our work defending this sector of critical infrastructure, and with this capital, we will grow our team, focus on our product, and continue our work defending commercial transportation and defense markets. This funding validates the risk we see emerging in cyber-physical attacks against infrastructure, and validates Shift5’s role leading the market.