Quartermaster, an Arlington-based maritime intelligence startup, has secured $140 million in new funding. The round includes a $100 million Series B led by Insight Partners and a $40 million venture debt facility from Stifel. Existing investors, including First Round Capital and Quiet Capital, participated alongside new backer Overmatch Ventures.
The company, founded in 2023 by CEO Neil Sobin, develops SmartMast. This system consists of cameras and radios installed on commercial vessels to provide real-time maritime data. Quartermaster provides the hardware and installation at no cost to operators, while the sensors create a shared network for insurers, fleet managers, and energy companies.
Currently, more than 650 vessels across 25 countries are equipped with the technology, with over 800 units shipped. The network covers nearly 46 million square kilometers, marking a 77% increase since May. The company plans to use the fresh capital to hire engineering staff and expand the number of equipped vessels in key shipping lanes.
Quartermaster’s total disclosed funding has reached at least $183 million, following a $43 million Series A round in May. The startup operates in a market where global maritime surveillance is projected to reach $50.93 billion by 2035. The company faces competition from firms like Kraken Technology Group, Saildrone, and Oshen.
