Ocean surveillance startup Quartermaster raises another $140M

Arlington, Virginia-based startup Quartermaster in May closed a $43 million Series A around its idea of using weather-hardened sensors to capture data and generate insights about maritime activity. That idea has proven popular, because Quartermaster has already closed a much larger Series B, bringing in $140 million this time.

Founder and CEO Neil Sobin said the round was preempted by software-focused venture firm Insight Partners, and the interest in what Quartermaster is building was helped by the war in Iran and the shipping chaos it’s caused.

“I think we we’ve gained huge amounts of conviction in the core thesis,” Sobin said in an exclusive interview. “A big part of the story for us this year was, events in the world drive that clarity and drive that conviction and urgency, and when you see that, you gotta seize the opportunity.”