Shift5, an OT security firm based in Arlington, VA, has raised an additional $33 million in Series B financing, bringing the total venture funding to $108 million.
The company focuses on providing cybersecurity solutions for operational technology (OT) within various fleet vehicles, including military vehicles and weapon systems. Shift5’s founders, Josh Lospinoso (CEO) and Michael Weigand (CGO), both have a background in US Army cyber operations, which has contributed to their success in attracting customers, including the Department of Defense (DoD).
The involvement of Booz Allen Ventures in this funding round can be partly attributed to the rising geopolitical tensions and the Ukraine conflict. This collaboration marks Booz Allen Ventures’ first investment aligned with Booz Allen Hamilton’s National Cyber strategy.
Shift5 has been working with the DoD since its inception and continues to expand its support across different branches and commands, including the Army, Navy, Air Force, Space Force, and Special Operations Command.
While cybersecurity is at the core of Shift5’s offerings, their unique selling point lies in their ability to gather real-time OT communications data within moving vehicles, a capability they refer to as ‘observability.’ This enables them to provide accurate security insights and detect anomalous behavior.
The observability of all IoT device communications also addresses the visibility gap that CISOs often face, offering detailed and up-to-date information to make informed decisions and take corrective actions in real time.
Shift5’s observability not only enhances cybersecurity but also facilitates the monitoring of the vehicles’ physical health and performance. By leveraging onboard data, the company aims to help customers unlock operational efficiencies.
Shift5 plans to continue innovating novel cyber solutions for OT while expanding their customer base and further supporting the warfighter within the DoD.
