Private funding rounds, April 2026
Every private raise an operating company reported to the SEC on Form D in April 2026: by sector, round size, revenue, age and state, with the largest raises named and linked to their filings.
1,059
Rounds with money sold
$9.91bn
Total sold
$1.5M
Median round
158
Rounds by pre-revenue companies
Against April 2025
The same month a year earlier, counted with the same filters. Totals swing with a handful of very large raises; the number of rounds and the median move less.
| April 2026 | April 2025 | Change | |
|---|---|---|---|
| Rounds with money sold | 1,059 | 723 | +46% |
| Total sold | $9.91bn | $9.71bn | +2% |
| Median round | $1.5M | $1.6M | -10% |
| Rounds by pre-revenue companies | 158 | 52 | +204% |
| Original Form D notices filed | 3,920 | 2,333 | +68% |
| Sector | Rounds April 2026 | Rounds April 2025 | Change | Median now | Median then |
|---|---|---|---|---|---|
| Technology | 298 | 230 | +30% | $1M | $2.2M |
| Other | 265 | 208 | +27% | $800K | $756K |
| Healthcare | 126 | 103 | +22% | $2M | $2.4M |
| Real estate | 182 | 99 | +84% | $2.7M | $1.8M |
| Financial services | 51 | 24 | +113% | $8M | $2.4M |
| Energy | 38 | 13 | +192% | $4.5M | $2.5M |
| Industrials | 37 | 15 | +147% | $1.1M | $2.1M |
| Consumer | 40 | 18 | +122% | $400K | $625K |
| Business services | 22 | 13 | +69% | $575K | $575K |
The largest raises
Amount sold as reported on the Form D. Each company links to its filing on EDGAR.
| Company | State | Industry | Sold | Investors | Filed |
|---|---|---|---|---|---|
| Saronic Technologies, Inc.Equity | TX | Other Technology | $1.02bn | 39 | 2026-04-09 |
| Vulcan Elements Holdings Corp.Equity | NC | Other Technology | $431M | 32 | 2026-04-02 |
| Verily Health Inc.Equity | TX | Other Technology | $300M | 8 | 2026-04-09 |
| Stoke Space Technologies, Inc.Equity | WA | Other Technology | $275M | 28 | 2026-04-16 |
| Hermeus CorpEquity | GA | Other | $201M | 70 | 2026-04-14 |
| Harvey AI CorpEquity | CA | Other Technology | $200M | 10 | 2026-04-06 |
| Nexamp, Inc.Equity | MA | Other Energy | $180M | 2 | 2026-04-17 |
| Xona Space Systems Inc.Equity | CA | Other | $170M | 19 | 2026-04-02 |
| Virtus Power Holdings, LLCEquity | NY | Other Energy | $150M | 2 | 2026-04-14 |
| Sierra International Network IncEquity | CA | Other Technology | $145M | 4 | 2026-04-16 |
| Sygaldry Technologies, Inc.Equity | MI | Other Technology | $139M | 165 | 2026-04-14 |
| Capstone Green Energy Holdings, Inc.Equity | CA | Other Energy | $113M | 15 | 2026-04-13 |
| Starfish Space Inc.Equity | WA | Other | $112M | 21 | 2026-04-08 |
| Rakuten Medical, Inc.Equity | CA | Biotechnology | $112M | 26 | 2026-04-13 |
| Corgi Insurance Services, Inc.Equity | CA | Insurance | $109M | 90 | 2026-04-03 |
| Beacon Biosignals, Inc.Equity | MA | Other Technology | $103M | 43 | 2026-04-15 |
| Big Poppy Holdings, Inc.Debt | CA | Commercial Banking | $101M | 46 | 2026-04-03 |
| Mosyle CorpEquity | FL | Other Technology | $100M | 2 | 2026-04-30 |
| Bae Systems Plc /Fi/Equity, revenue over $100m | Outside US | Other | $88.3M | 296 | 2026-04-02 |
| Business First Bancshares, Inc.Debt | LA | Commercial Banking | $85M | 45 | 2026-04-14 |
| HBT Financial, Inc.Debt, revenue over $100m | IL | Commercial Banking | $85M | 43 | 2026-04-09 |
| nEye Systems, Inc.Equity | CA | Other Technology | $80M | 47 | 2026-04-16 |
| Aaru, Inc.Equity | NY | Other Technology | $80M | 30 | 2026-04-23 |
| Mariana Minerals Co.Equity | CA | Other Energy | $73.5M | 27 | 2026-04-07 |
| Aria Networks, Inc.Equity | CA | Other Technology | $73M | 33 | 2026-04-21 |
By sector
Sector is the issuer's own Form D industry group, grouped.
| Sector | Rounds | Total sold | Median | Largest |
|---|---|---|---|---|
| Technology1038 software and internet investors | 298 | $4.34bn | $1M | Saronic Technologies, Inc. $1.02bn |
| Other | 265 | $1.59bn | $800K | Hermeus Corp $201M |
| Healthcare425 healthcare and life sciences investors | 126 | $995M | $2M | Rakuten Medical, Inc. $112M |
| Real estate39 real estate investors | 182 | $928M | $2.7M | MKT Venture LP $47M |
| Financial services296 financial services investors | 51 | $902M | $8M | Corgi Insurance Services, Inc. $109M |
| Energy204 energy and utilities investors | 38 | $823M | $4.5M | Nexamp, Inc. $180M |
| Industrials122 industrials and manufacturing investors | 37 | $147M | $1.1M | Graham Corp $50M |
| Consumer238 consumer and retail investors | 40 | $97.2M | $400K | Mars Health, Inc. $27.5M |
| Business services77 business and professional services investors | 22 | $91.2M | $575K | Haro Ross Holdings LLC $30M |
By round size
Amount sold at the time of filing.
| Size band | Rounds | Total sold | Median round |
|---|---|---|---|
| Under $1M | 461 | $125M | $185K |
| $1M to $5M | 301 | $773M | $2.3M |
| $5M to $20M | 193 | $1.87bn | $8.6M |
| $20M to $50M | 70 | $2.1bn | $29.3M |
| $50M to $100M | 17 | $1.18bn | $70M |
| $100M and over | 17 | $3.86bn | $150M |
By company revenue
The revenue range the issuer reported on its Form D. Many decline to disclose it.
| Revenue | Rounds | Total sold | Median round |
|---|---|---|---|
| No revenue | 158 | $264M | $250K |
| Up to $1M | 49 | $48.8M | $200K |
| $1M to $5M | 15 | $41.8M | $1.1M |
| $5M to $25M | 12 | $65.1M | $2.6M |
| $25M to $100M | 3 | $82.3M | $6.8M |
| Over $100M | 6 | $341M | $50.1M |
| Declined to disclose | 811 | $9.06bn | $2M |
| Not applicable | 5 | $12.5M | $1.3M |
By company age
Years since incorporation, as filed.
| Age | Rounds | Total sold | Median round |
|---|---|---|---|
| Under 2 years | 504 | $2.28bn | $893K |
| 2 to 5 years | 276 | $3.54bn | $1.6M |
| Over 5 years | 279 | $4.1bn | $3.2M |
By instrument
SAFE and convertible are read from the filer's own description of the security.
| Instrument | Rounds | Total sold | Median round |
|---|---|---|---|
| Equity | 788 | $8.64bn | $1.9M |
| Debt | 45 | $597M | $1.8M |
| Other | 30 | $321M | $6.1M |
| Convertible | 50 | $197M | $1M |
| SAFE | 99 | $101M | $205K |
| Options or warrants | 47 | $59.2M | $225K |
By state
The issuer's principal place of business. Top 15.
| State | Rounds | Total sold | Median round |
|---|---|---|---|
| CA | 145 | $2.23bn | $3.5M |
| TX | 99 | $1.81bn | $1.3M |
| NY | 85 | $907M | $3.5M |
| MA | 57 | $836M | $5.4M |
| NC | 24 | $495M | $473K |
| WA | 31 | $476M | $375K |
| FL | 64 | $422M | $1.1M |
| Outside US | 72 | $333M | $1.2M |
| GA | 38 | $315M | $950K |
| IL | 31 | $219M | $1.5M |
| MI | 16 | $180M | $775K |
| UT | 18 | $163M | $675K |
| VA | 23 | $146M | $2.5M |
| DE | 36 | $137M | $1.3M |
| TN | 18 | $137M | $4.9M |
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How this is built
A US company raising money privately files a Form D with the SEC within 15 days of the first sale. Each report counts every original Form D (not amendments, so a round that closes in tranches is counted once) filed in the period by an operating company. A weekly report covers an ISO week, Monday to Sunday UTC; a monthly report the calendar month. Investment funds, SPVs, finance vehicles and business-combination filings are left out. A round is counted when the filing reports money already sold, and its size is that amount.
Form D does not name the round, so there is no seed or Series A label here. The tables group by what the filing does state: the amount sold, the issuer's industry group, its own revenue range, how long ago it was incorporated, and the instrument sold.
3,920 original Form D notices were filed in April 2026; 1,059 are operating-company rounds with money sold. Source: SEC EDGAR, Form D filings for April 2026. Built 2026-10-11 from the SEC quarterly Form D data set, with the same filters as the reports built from EDGAR each month.