Shift5, a Rosslyn, VA-based onboard data company, raised $33 million in additional financing, bringing its Series B round to $83 million.
The round was led by Moore Strategic Ventures, with participation from industry leaders in the defense and commercial aerospace sectors, including Booz Allen Hamilton's corporate venture capital arm (Booz Allen Ventures), JetBlue Ventures, and Teamworthy Ventures.
The recently secured funding will be used to expand Shift5's infrastructure, supporting the company's growing commercial and federal businesses. The latest financing brings Shift5's total venture funding to $108 million.
The Shift5 platform specializes in unlocking onboard operational technology (OT) data and providing modern observability into onboard assets.
“Gaining observability at the onboard OT level can transform not just real-time operations, but the resilience and safety of the commercial and military fleets that underpin national defense and the U.S. economy,” said Shift5 CEO and Co-Founder Josh Lospinoso. “The work Shift5 does is foundational – the endless data we capture, add context to, analyze and provide insights around creates a wholly new paradigm for fleet operators and maintainers to make decisions. And in the context of innovations and modern threats, this level of specificity is needed. Our expanded round not only validates the successes of the Shift5 business, but will help us support overall safer, more reliable, and resilient commercial transportation and military fleets.”
Shift5 currently supports multiple branches and combatant commands of the U.S. military, including the U.S. Army, U.S. Navy, U.S. Air Force, U.S. Space Force, and U.S. Special Operations Command.
Alongside the funding news, Shift5 has expanded its office space in Arlington and strengthened its executive team by appointing a General Counsel, Chief Revenue Officer, and Chief People Officer.
Company: Shift5, Inc.
Round: Series B
Funding Month: June 2023
Lead Investors: Moore Strategic Ventures
Additional Investors: Booz Allen Ventures, JetBlue Ventures, and Teamworthy Ventures
Company Website: https://www.shift5.io/
Software Category: Onboard OT Visibility, Critical Insights & Cybersecurity
About the Company: Shift5 is an onboard data company that 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. Shift5 is a hardware, serial bus, and protocol-agnostic platform that can perform full-take data capture from the components and data buses onboard fleets and weapon systems as well as real-time edge analytics. The company is currently supporting multiple branches and combatant commands of the U.S. military.