It’s a big day at Shift5, as 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.
Why Aviation, Rail, Defense?
The U.S. Department of Homeland Security (DHS) designates the Transportation System Sector as one of 16 critical infrastructure sectors whose disruption would debilitate national security. Billions of dollars are invested annually in the infrastructure that gets people and things where they need to be (from personal and work travel, to supply chain and freight), and billions are invested annually in defending our nation. Planes, trains, and weapon systems are linchpins in critical infrastructure. Their resilience against cyberattacks is critical, yet owners and operators are locked out of the data they need to gain visibility into their systems and their exposure to risks.
Shift5 fills in this gap. We defend operational technology (OT) in transportation and weapon systems, enabling aviation, rail and metro, and military defenders with cybersecurity best practices. We give operators complete visibility into their OT networks, the ability to detect threats, and maintain resilience of their OT systems.
Our momentum
Attacks targeting the transportation industry witnessed a 186% increase on a weekly basis – New York Metropolitan Transporation Authority, Toronto Transit Commission, Ann Arbor’s TheRide, and Class I freight operator CSX were each targeted. In response, the U.S. government re-established OT defense as a national security priority, through their TSA and CISA advisories.
It’s under the context of this growing threat landscape that Shift5 found increased momentum. As we announce our Series B funding, I want to highlight the tremendous accomplishments achieved by the Shift5 team in the past year:
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We closed multiple seven-figure deals, including a contract with the United States Special Operations Command in October
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Our $20 million Series A round of funding closed in the last year
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We welcomed world-class talent from the cybersecurity industry to our team, and grow our company by more than 200%
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We were named a 2021 Tech 100 Honoree by Northern Virginia Technology Council (NVTC)
Join the team
Our mission is aggressive, and the market is expansive. We have a long way to go, and we need the best in the industry to join us. We’re a remote-first company, and prioritize creating an inclusive and people-centric environment. Our work is for those who want to be challenged and reach career highs. We offer top-of-market compensation plans, a strong culture, and an environment where each individual is enabled to find the opportunities that allow them to thrive and grow.
If our mission excites you, and you want to join a team breaking boundaries in securing transportation infrastructure, check out our open roles, or DM me on LinkedIn.
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