Onboard observability company joins the ranks of Nvidia, YouTube, Taco Bell, and more
Rosslyn, Virginia--(Newsfile Corp. - March 19, 2024) - Shift5, the observability platform for onboard operational technology (OT), has been named to Fast Company's prestigious list of the World's Most Innovative Companies of 2024.
This year's list shines a spotlight on businesses that are shaping industry and culture through their innovations. These organizations are setting new standards and achieving remarkable milestones in all sectors of the economy. Alongside the World's 50 Most Innovative Companies, Fast Company recognizes 606 organizations across 58 sectors and regions.
"National security and economic stability depend on the reliability and readiness of military vehicles, weapon systems, and commercial aviation and rail platforms. Planes, jets, tanks, and trains are critical infrastructure that move billions of dollars of freight, transport millions of passengers safely, and form the frontlines of military efforts; they also generate massive volumes of data that have thus far gone largely untapped," said Josh Lospinoso, CEO and co-founder, Shift5. "We're changing that reality for operators. Shift5 makes it possible for operators to gain the observability, context, and insights needed from the onboard data flowing from these platforms. We're supporting operators' cybersecurity, maintenance, operational, and safety goals - sometimes, for the first time - helping them lower costs and increase the uptime of their fleet assets. We're honored that Fast Company has acknowledged the effort by our team to build this generational technology."
Shift5 built a unique model that brings order and clarity to the complexity of onboard data flowing from commercial aerospace, rail, and defense fleets and weapon systems. The Shift5 Platform captures and analyzes real-time serial bus data, revealing critical operational and cybersecurity insights that enable organizations to move from data to decisions quickly and confidently. Shift5 unlocks the complete ecosystem of onboard data for operations, maintenance, and cybersecurity teams for the first time, enabling real-time decision intelligence through complete onboard data access and observability from the asset level to fleet scale.
Over the past 18 months, the company has made notable achievements across its business and its technology. Shift5 recently announced its partnership with the U.S. Army to secure its High Mobility Artillery Rocket System (HIMARS) against cyber threats. Shift5 launched its Predictive Maintenance Module, enabling operators to use comprehensive onboard data insights that enable maintenance teams to perform better, faster, and more accurately. The company also launched its Compliance Module, making it the only original equipment manufacturer (OEM)-agnostic platform to capture, analyze, and report anomalies in core network security log files automatically. Shift5 also announced it closed its Series B round of funding, along with notable accomplishments:
- Supported multiple branches and combatant commands of the U.S. military, including: U.S. Army, U.S. Navy, U.S. Air Force, U.S. Space Force, and U.S. Special Operations Command.
- Secured a 92% retention rate with in-production customers across the DoD and commercial sectors.
- Captured more than 8,500 operational hours from commercial and military fleets and weapon systems.
- Increased the size of its deployment in a Fortune 500 commercial airline by 25%.
- Achieved its first cross-platform Authority to Operate (ATO) Certification from the U.S. Department of Defense (DoD).
The World's Most Innovative Companies stands as Fast Company's hallmark franchise and one of its most anticipated editorial efforts of the year.
Fast Company's editors and writers identified the companies driving progress around the world and across industries, evaluating thousands of submissions through a competitive application process. The result is a globe-spanning guide to innovation today, from early-stage startups to some of the most valuable companies in the world. Fast Company's Most Innovative Companies package is available online, as well as in-app form via iTunes, and on newsstands beginning March 26. The hashtag is #FCMostInnovative.
"Our list of the Most Innovative Companies is both a comprehensive look at the innovation economy and a snapshot of the business trends that defined the year," said Fast Company editor-in-chief Brendan Vaughan. "We saw extraordinary innovation across the board in 2023, but we also saw a handful of clear patterns: the growing footprint and impact of AI, the triumphant return of live events, and great leaps forward in climate tech. We face daunting challenges on many fronts, but the solutions we celebrate in MIC give me plenty of hope about the future."
Fast Company will host the Most Innovative Companies Summit and Gala on May 16. The summit features a morning and afternoon of inspiring content, followed by a creative black-tie gala including networking, a seated dinner, and an honoree presentation. This event celebrates the Most Innovative Companies honorees and provides an inside look at cutting-edge business trends and what it takes to innovate in 2024.
About Shift5
Shift5 is the observability platform for onboard operational technology (OT), enabling smarter, faster decisions through real-time data access, contextual insights, and actionable analytics at the edge for aerospace, rail, and defense. Created by officers who stood up U.S. Army Cyber Command and pioneered modern weapons system cyber assessments, Shift5 defends commercial and military fleets as well as weapon systems against operational failures and OT cybersecurity risks. Household name aviation companies, U.S. railroads, and fleets within the U.S. military rely on Shift5 for the security, availability, safety, resilience, and reliability of today's fleets and tomorrow's next-generation assets. For more information, visit https://shift5.io.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
Media Contact:
Katie Garagozzo
katie@shift5.io
Shift5, Inc.
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