October 21, 2021 | By Sarah Van Velsor
Just in time for cybersecurity month, Arlington startup Shift5 announced that they raised $20 million in Series A financing. Shift5 defends military and commercial transportation systems from cyber attacks. The round was led by 645 Ventures, with participation from Squadra Ventures, General Advance, and First In. The financing will allow the company to hire new talent in Arlington’s growing cybersecurity ecosystem.
In a recent Tech Connect Profile, CEO of Shift5, Josh Lospinoso said, “There is an enormous number of completely unprotected and highly vulnerable fleet assets around the world operated by businesses and governments alike. These move people and goods across the planet and underpin modern society. We aim to be the world’s experts in defending these critical assets from cyberattack. It’s an enormous undertaking, but it’s possible thanks to the team we’re building and the partnerships we’re forging.”
In July 2021, The Software Report named Lospinoso one of the Top 25 Cybersecurity CEOs of 2021. Shift5 has also been working closely with the Army’s Rapid Capabilities and Critical Technologies Office (RCCTO) in an ongoing project to deliver a vehicle security system for a critical ground vehicle platform. Under the initial $2.6 million OTA, awarded November 12, 2020, Shift5 will provide a unified cybersecurity solution designed to help protect the operational technology of the Army’s Stryker combat vehicle platform.
Last year, Arlington companies were involved in 23 venture capital deals totaling more than $329.8 million.