Stifel has provided Quartermaster with a $40 million venture debt facility as part of a financing package announced on 28 September 2026.
The debt sits alongside $100 million of Series B equity led by Insight Partners, with new participation from defence-focused Overmatch Ventures. Returning equity backers included First Round Capital, Quiet Capital, Steel Atlas, TMV, Box Group and Operator Partners. Together, the debt and equity amount to $140 million.
Quartermaster, headquartered in Arlington, Virginia, US, builds SmartMast, a ship-mounted, weather-hardened sensor package that uses cameras and radios to collect real-time maritime data.
The company said proceeds from the financing will be used to grow engineering headcount and recruit new vessels for coverage. Quartermaster said more than 650 vessels across 25 countries are already fitted with SmartMast.
The Series B follows Quartermaster’s $43 million Series A in May 2026, co-led by First Round Capital and Quiet Capital. TechCrunch reported that the company has shipped more than 800 units, doubled manufacturing capacity and begun broader fleet deployments.
Founder and CEO Neil Sobin announced the financing in a company blog post. Terms of the Stifel venture debt facility were not disclosed.