# Quartermaster raises $140M Series B led by Insight Partners

> Quartermaster, based in United States, has raised $140M in a Series B, announced on 28 September 2026. 8 other investors joined.

Source: https://millionrounds.com/news/rounds/quartermaster-series-b-2026-09 (Millionrounds; every figure on the page links to its filing or article)

Raised **$140M** 2 sources reported it

Stage **Series B** 1 earlier round on record

Investors **8** no lead named

Where **US** United States

AI Defence Tech IoT Logistics

## How big is it?

Against every equity round we recorded in the twelve months to 28 September 2026. Ranks count companies, so the same raise reported twice is counted once.

**#350** equity round of the last twelve months

**#60** Series B of 394 in that time

**#224** round in United States, of 1,134

This round **$140M**

Median Series B **$50M**

2.8 times the median Series B of the last twelve months.

## Who invested

In the round

- [BoxGroup](https://millionrounds.com/fund/boxgroup)
- [First Round Capital](https://millionrounds.com/fund/first-round-capital)
- [Quiet Capital](https://millionrounds.com/fund/quiet-capital)
- [Operator Partners](https://millionrounds.com/fund/operator-partners)
- [Steel Atlas](https://millionrounds.com/fund/steel-atlas)
- [TMV Logistics](https://millionrounds.com/fund/tmv-logistics)
- [Overmatch Ventures](https://millionrounds.com/fund/overmatch-ventures)
- [Stifel](https://millionrounds.com/fund/stifel)

## Funding history

- September 2026 Series B **$140M**
- May 2026 Series A **$43M**

$183M raised across the 2 rounds we hold.

## Reported by

- TechStartups 28 September
- Tech Funding News 29 September

The round's figures come from these reports; each link opens the original.

## Other big rounds that week

[A **Armadin** $256M Series B](https://millionrounds.com/news/rounds/armadin-series-b-2026-10)[**Simple Energy** $180M Series C](https://millionrounds.com/news/rounds/simple-energy-series-c-2026-09)[**EliseAI** $350M Growth](https://millionrounds.com/news/rounds/eliseai-growth-round-2026-09)[**Jeeves** $110M Series C](https://millionrounds.com/news/rounds/jeeves-series-c-2026-09)[**Instinct** $1.0B Series C](https://millionrounds.com/news/rounds/instinct-series-c-2026-09)

[The company **Quartermaster on Millionrounds** *→*](https://millionrounds.com/company/quartermaster)[Weekly roundup **Week of 28 September** *→*](https://millionrounds.com/news/weekly/2026-09-28)[Monthly roundup **September 2026** *→*](https://millionrounds.com/news/monthly/2026-09)

**How this article is made**

We write one for every equity round of $100M or more that at least two sources reported. It is put together from our record of rounds, not rewritten from the reports: the ranks and medians count every equity round we read in the twelve months to the round's date. [How we read rounds](https://millionrounds.com/methodology) · [Report a mistake](https://millionrounds.com/corrections)