QuestMark Partners
QuestMark Partners is a Baltimore-based expansion-stage venture capital firm founded in 1998 that invests $5-15 million in enterprise software, cloud, security, fintech, consumer internet, and healthcare IT companies, managing four funds across 60+ investments.
- Company typePrivate
- Founded1998
- HeadquartersBaltimore, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What QuestMark Partners does
QuestMark Partners is an expansion-stage venture capital firm founded in 1998 by Ben Schapiro following a 32-year investment banking career at Alex. Brown & Sons. Headquartered in Baltimore, Maryland, the firm manages four funds with a 60+ investment track record across enterprise software, vertically-focused cloud software, mobile software, tech-enabled business services, security, financial technology, consumer internet, and healthcare IT. The team consists of a founder and four partners (Tim Krongard, Mike Ward, Brian Matthews, Nick Superina) supported by an administrator and a director of finance, operating as a lean partnership with complementary backgrounds spanning investment banking, management consulting (Boston Consulting Group, American Management Systems), intelligence (US Navy), and prior VC experience (NEA, CMEA Ventures).
The firm invests $5-15 million initially with capacity to deploy $25-30 million per company, leading financings while welcoming co-investors. QuestMark focuses on companies with proven go-to-market strategies and "strong (and real) recurring revenue," targeting long-term standalone success rather than near-term exits. Active portfolio companies include Peloton, InsideSales.com, Taulia, Venafi, KeyMe, Vidyo, Urban Airship, Social Tables, Vapotherm, ADARA, Digabit, Discover Books, and IntegenX. Realized exits include ServiceMax (acquired by GE Digital for $915M), Virtustream (acquired by EMC for $1.2B), Applause (acquired by Vista Equity Partners), and IPOs of eHealth, Align Technology (Invisalign), Teladoc, Ceres, Aspect Medical Systems, and SpeechWorks. Holding periods have ranged from 1 to 13 years, demonstrating patient capital deployment.
QuestMark generates revenue through traditional private equity management fees on committed fund capital and carried interest from portfolio realizations. Deal sourcing is driven entirely by network referrals and relationship-building with CEOs and co-investors, with no outbound marketing infrastructure. The firm operates from a single Baltimore office, invests opportunistically within its sector focus, and also funds acquisitions and partial secondary purchases that maintain stakeholder alignment.
QuestMark Partners firmographics
Firmographics- Name
- QuestMark Partners
- Legal name
- QuestMark Partners
- Website
- https://questmarkpartners.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- QuestMark Partners is a Baltimore-based expansion-stage venture capital firm founded in 1998 that invests $5-15 million in enterprise software, cloud, security, fintech, consumer internet, and healthcare IT companies, managing four funds across 60+ investments.
- Ownership category
- akta.pro rank
QuestMark Partners industry classification
Industry- Product category
- Venture Capital / Growth Equity Investing
- NAICS
- Investment Banking and Securities Intermediation (523150), All Other Financial Investment Activities (52399)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Late-Stage Venture Capital (Series C+) (FSANAAAC)
Keywords
Where QuestMark Partners is headquartered
LocationHeadquarters
- HQ city
- Baltimore
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
QuestMark Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Investment Management - Management Fees: Traditional private equity/venture capital management fee structure from managing 4 funds over 18 years with 60+ investments
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
QuestMark Partners product offering
Product offeringCore offering
QuestMark Partners is an expansion-stage venture capital firm that invests growth equity capital behind exceptional management teams building market-leading technology companies. Over 18 years, four funds, and 60+ investments, the firm provides initial investments of $5-15 million with capacity up to $25-30 million, typically leading financings in enterprise software, cloud software, mobile software, security, financial technology, consumer internet, and healthcare IT sectors. The firm also funds acquisitions and partial secondary purchases, with holding periods ranging from 1 to 13 years.
Product overview
QuestMark Partners is an expansion-stage venture capital firm, not a product company. The firm does not offer products or services in the traditional sense — it provides growth equity investment capital and strategic partnership to portfolio companies. Investment focus areas include enterprise software, vertically-focused cloud software, mobile software, tech-enabled business services, security, financial technology, consumer internet, and healthcare IT. Investment sizes range from $5-15 million initially, with capacity to invest $25-30 million in appropriate situations.
Differentiator
Problem solved
Functional benefit
Companies that use QuestMark Partners
Customer profileNamed customers13 records
Segments2 records
Ideal customer profiles1 record
QuestMark Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
QuestMark Partners partnerships and signals
Strategic signalScale indicators5 records
Recent moves11 records
Expansion highlights4 records
QuestMark Partners competitors and assessment
Company assessmentDirect peers
- Summit Partners: Summit Partners is a growth equity firm investing across technology, healthcare, and business services with flexible check sizes. They overlap directly with QuestMark's expansion-stage, recurring-revenue-focused investment mandate and target similar enterprise software and healthcare IT opportunities.
- Insight Partners: Insight Partners is a leading expansion-stage and growth equity software investor writing checks typically larger than QuestMark's. They compete directly for the same enterprise software, SaaS, and tech-enabled business services deals in QuestMark's mandate, though at materially higher check sizes.
- Battery Ventures: Battery Ventures invests across stages in enterprise software, consumer, and healthcare IT. Their expansion-stage practice competes directly with QuestMark for deals in SaaS, security, and tech-enabled business services.
- Bain Capital Ventures: Bain Capital Ventures is an expansion-stage venture firm investing in enterprise software, fintech, and consumer internet. They compete for similar deals with similar stage focus and comparable check sizes, with backing from Bain Capital providing capital and operational support advantages.
- TA Associates: TA Associates is a leading growth equity firm that invests in expansion-stage technology, financial services, and healthcare companies. They compete for similar deals but typically at larger check sizes than QuestMark's $5-15M initial range.
- Scale Venture Partners: Scale Venture Partners focuses specifically on expansion-stage SaaS and enterprise software companies with check sizes comparable to QuestMark's. They are a direct peer competing for the same enterprise cloud and SaaS deals in QuestMark's portfolio.
- Bessemer Venture Partners: Bessemer Venture Partners is a long-standing venture capital firm investing across stages including expansion-stage. Their cloud and enterprise software focus overlaps directly with QuestMark's enterprise software, security, and healthcare IT mandate.
Broad incumbents
- General Atlantic: General Atlantic is a global growth equity firm with a much larger AUM and broader sector reach. They compete for QuestMark's expansion-stage technology deals but typically write larger checks and operate globally with multiple offices.
- New Enterprise Associates (NEA): NEA is a large multi-stage venture capital firm that also invests in expansion-stage technology companies. Brian Matthews of QuestMark summered at NEA and Director of Finance Lynn Dymond previously held NEA's Director of Partnership Finance role, indicating close industry overlap. NEA's broader AUM and stage coverage makes it a broader incumbent comparison.
Others
- CMEA Ventures: CMEA Ventures is a venture capital firm focused on technology and life sciences investments. Director of Finance Lynn Dymond previously served as CFO at CMEA Ventures, making it a closely connected peer in the expansion-stage technology investment space.
Market position
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
QuestMark Partners social profiles
Digital presenceQuestMark Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
QuestMark Partners leadership team
Management profileNumber of profiles
Profiles7 records
QuestMark Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
QuestMark Partners M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about QuestMark Partners
What does QuestMark Partners do?
QuestMark Partners is an expansion-stage venture capital firm that invests growth equity capital behind exceptional management teams building market-leading technology companies. Over 18 years, four funds, and 60+ investments, the firm provides initial investments of $5-15 million with capacity up to $25-30 million, typically leading financings in enterprise software, cloud software, mobile software, security, financial technology, consumer internet, and healthcare IT sectors. The firm also funds acquisitions and partial secondary purchases, with holding periods ranging from 1 to 13 years.
Is QuestMark Partners a public or private company?
QuestMark Partners is a private company. It is classified as management employee owned and is currently operating.
When was QuestMark Partners founded?
QuestMark Partners was founded in 1998. It employs 11 to 50 people.
Where is QuestMark Partners based?
QuestMark Partners is headquartered in Baltimore, United States, in the North America region.
How does QuestMark Partners make money?
One revenue line is on record: investment Management - Management Fees.
Who are QuestMark Partners's main competitors?
Direct peers on record are Summit Partners, Insight Partners, Battery Ventures, Bain Capital Ventures, TA Associates, Scale Venture Partners and Bessemer Venture Partners. Broad incumbents are General Atlantic and New Enterprise Associates (NEA). CMEA Ventures is listed as an others.
Does QuestMark Partners have an API?
No public API is recorded for QuestMark Partners.
What industry is QuestMark Partners in?
QuestMark Partners's product category is Venture Capital / Growth Equity Investing. Its primary akta.pro industry code is FSANAAAC, Late-Stage Venture Capital (Series C+). Its NAICS code is 523150 and its SIC code is 6211.