Fleet Financing

Shift5 Raises $ 20 Million to Secure Commercial and Military Transportation Fleet Systems

Shift5 has raised $ 20 million in Series A funding to provide enhanced cybersecurity and operational intelligence to today’s commercial fleet operators and military platforms. The round was led by 645 Ventures, with participation from Squadra Ventures, General Advance and First In.

Operational technology underpins critical infrastructure, enabling it to operate continuously and reliably. Transport fleets – planes, railways, military vehicles – depend on the OT to move millions of people, fuel the supply chain, and defend national security. However, the old OT was developed before the emergence of widespread digital connectivity and modern standards for cybersecurity, which resulted in a lack of complete visibility into data and resilience against cyber attacks.

Today, digital components and control networks are deeply embedded in planes, trains, and military vehicles, creating an attack surface that remains insecure. With mobility and availability requirements, securing the TO that allows fleets to operate is a significant challenge for CISOs responsible for their defense.

Shift5 protects OT powering a critical and unprotected part of the infrastructure against cyber attacks and operational failures by detecting cyber threats and equipment malfunctions that could lead to costly operational failures and catastrophic risks.

Led by a team of founding members of the US Army Cyber ​​Command and proven leadership in cybersecurity, Shift5 was built on the premise that the infrastructure powering US transportation systems is inherently vulnerable, unique from to other industrial control systems, and requires a new and rigorous approach to defense.

“The increasing rate of physical cyber attacks against national infrastructure has exposed the digital insecurity of the American systems that underpin modern society. Successful cyber attacks have triggered gasoline and meat shortages and transit failures, affecting the daily lives of thousands of people and causing downstream costs for the businesses involved, ”said Josh Lospinoso, co-founder and CEO of Shift5. “Defending the cyber-physical attack surface of planes, trains and tanks is a national security imperative. This new funding represents a significant investment in hiring world-class talent, advancing the Shift5 platform and bringing cybersecurity to the trillions of dollars in fleet assets that move the world. “

Shift5 funding comes in addition to important government contracts that have fueled business and technology growth, including a new contract with the U.S. Army’s Rapid Capabilities and Critical Technologies Office (RCCTO) to configure Shift5’s commercial technology on army combat vehicles. The company is trusted to provide enhanced cybersecurity and operational intelligence to protect today’s commercial fleet operators and military platforms including the United States Army, United States Air Force, the United States Navy and many of the largest United States passenger rail systems.

“When we talk about defending OT for transport infrastructure assets, it is understanding that the margin for error is minimal. Shift5’s roots in military spaces mean these issues were there from the start, ”said Joe Lea, President of Shift5. “Such standards have allowed us to work with like-minded partners in the federal space and have increasingly opened the door to conversations with key rail and air safety officers. Our discussions are similar: transport is an infrastructure that drives global economic performance, on which millions of people rely on a daily basis and which defends the nation; not having the capacity to defend it is unacceptable.

Shift5’s data-driven solution integrates directly with existing vehicle platforms, collecting and enriching data from on-board digital components and continuously monitoring data flows to detect safety and operational anomalies. Its analytics platform provides cybersecurity intrusion detection, smarter maintenance, and improved operational intelligence for fleet operators.

Other features enable firmware and configuration attestation and the ability to protect assets by neutralizing malicious or corrupt payloads. Shift5 also provides specialist services for areas of operational technology cybersecurity, such as vulnerability research and capacity development.

“Shift5 represents the best of what 645 is looking for in an investment: a talented, driven and experienced team that creates a differentiated technology company to solve a critical and growing problem,” said Nnamdi Okike, co-founder and managing partner of 645 Ventures. “The challenge of monitoring and securing fleets, vehicles, and commercial and government systems against cyber attacks and malfunctions is one of the most important in cybersecurity today. We are excited to work closely with them as they move the business forward.

Shift5 was recently named a Cool Vendor in Gartner’s Cyber-Physical Systems (CPS) Security Report, recognized for its range of capabilities for collecting, compressing and transmitting critical vehicle information and continuous monitoring of vehicle and fleet safety.

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