Arlington’s Shift5 Inc. says it’s seen new demand in the relatively niche area of protecting transportation and military systems from cyberattacks.
The cybersecurity company is planning on making “significant investments” in product development, hardware development and hiring to keep pace with the increased demand brought on in part because of an uptick in such attacks. A $50 million fundraising round last week will help fund those investments, said Josh Lospinoso, co-founder and CEO of the company.
Last week’s Series B raise was the company’s second in less than four months; it raised $20 million in a Series A round in October. The Series B round was led by New York’s Insight Partners, while the previous round was led by New York’s 645 Ventures and included Baltimore’s Squadra Ventures, private investment firm General Advance and D.C.’s First In. The cybersecurity company, which specializes in protecting transportation infrastructure and weapons systems from cyberattacks,…
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