SHIFT5 PRESS RELEASES
Shift5, the observability platform that unlocks fleet and weapon systems onboard data to optimize operational readiness, lethality, and survivability, today announced that the Shift5 Platform has been given “Awardable” status by the Chief Digital and Artificial Intelligence Office’s (CDAO) Tradewinds Solutions Marketplace.
Shift5, the OT cybersecurity company that defends military platforms and critical transportation systems from cyberattacks, today announced that the company has been recognized as an Excellence Award Finalist in the Most Promising Early-Stage Startup category for the 2022 SC Awards.
A new report out today from MeriTalk and underwritten by Shift5, “Redefining Operational Readiness: Enabling the Full Potential of Predictive Maintenance,” surveyed decision-makers and revealed that while the need for predictive maintenance in defense, commercial aviation, and commercial rail is urgent, legacy systems and tooling and a lack of access to real-time onboard data hold back desired adoption. Predictive maintenance allows the owners, operators, and maintainers responsible for transportation an defense fleets to monitor the condition of their fleets and identify issues before they impact safety, availability, or readiness.
Shift5 today announced the launch of the Shift5 Predictive Maintenance Module. The Module leverages the Shift5 platform’s real-time access and analysis of onboard data to deliver actionable insights needed to predict and schedule maintenance effectively. This proactive approach to maintenance helps teams stay ahead of critical failures and support the safety and performance of transportation and defense assets.
Shift5 today announced it has attained SOC 2 Type II certification, certifying the company’s ability to uphold and manage its customers’ data, maintain system availability, process information accurately, and uphold strict confidentiality and privacy principles to the highest standards.
Shift5 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%.