Private funding rounds, September 2026
Every private raise an operating company reported to the SEC on Form D in September 2026: by sector, round size, revenue, age and state, with the largest raises named and linked to their filings.
929
Rounds with money sold
$17.4bn
Total sold
$1.3M
Median round
137
Rounds by pre-revenue companies
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 |
|---|---|---|---|---|---|
| TBC - The Boring CoConvertible | TX | Other | $3.2bn | 141 | 2026-09-10 |
| Crusoe Inc.Equity | CO | Other | $3.11bn | 108 | 2026-09-17 |
| Tenstorrent Holdings Inc.Equity | TX | Other Technology | $1.29bn | 134 | 2026-09-09 |
| ZeroStack Corp.Equity | TX | Other Technology | $1bn | 2 | 2026-09-02 |
| Fab2, Inc.Equity | TX | Other Technology | $556M | 89 | 2026-09-08 |
| Harvey AI CorpEquity | CA | Other Technology | $550M | 28 | 2026-09-11 |
| Sierra International Network IncEquity | CA | Other Technology | $502M | 2 | 2026-09-17 |
| Longtail Insurance Holdings Ltd.Equity | Outside US | Insurance | $416M | 89 | 2026-09-30 |
| Celero Communications, Inc.Equity | CA | Other Technology | $273M | 44 | 2026-09-09 |
| Precision Neuroscience CorpEquity | NY | Other Health Care | $250M | 46 | 2026-09-28 |
| Exa Labs Inc.Equity | CA | Other Technology | $247M | 38 | 2026-09-28 |
| Dream Finders Homes, Inc.Equity | FL | Residential | $225M | 13 | 2026-09-22 |
| Rightway Healthcare, Inc.Equity | NY | Other Health Care | $155M | 6 | 2026-09-08 |
| Twenty Technologies, Inc.Equity | VA | Other Technology | $131M | 12 | 2026-09-25 |
| Pophouse Avatar Network Inc.Equity | NV | Other | $129M | 7 | 2026-09-29 |
| Quartermaster AI, IncEquity | VA | Other Technology | $123M | 17 | 2026-09-29 |
| STARC Acquisitions, Inc.Equity | CA | Other | $117M | 29 | 2026-09-18 |
| Gnau Inc.Equity | NY | Other Technology | $100M | 22 | 2026-09-01 |
| Onto AI LLCDebt | DE | Other Technology | $100M | 6 | 2026-09-08 |
| Crucible Topco, L.P.Equity | CA | Manufacturing | $96.4M | 59 | 2026-09-15 |
| Superhuman Platform Inc.Options or warrants | CA | Other Technology | $91.6M | 436 | 2026-09-25 |
| Felix Technologies Inc.Equity | FL | Other Technology | $87.8M | 16 | 2026-09-01 |
| SideGuide Technologies Inc.Equity | CA | Other | $82.1M | 7 | 2026-09-14 |
| Alpfa Medical, Inc.Equity | CA | Other Health Care | $80.3M | 71 | 2026-09-28 |
| Alzheon, Inc.Equity | MA | Biotechnology | $78.8M | 3 | 2026-09-10 |
By sector
Sector is the issuer's own Form D industry group, grouped.
| Sector | Rounds | Total sold | Median | Largest |
|---|---|---|---|---|
| Other | 190 | $7.28bn | $750K | TBC - The Boring Co $3.2bn |
| Technology1038 software and internet investors | 320 | $6.45bn | $1M | Tenstorrent Holdings Inc. $1.29bn |
| Healthcare425 healthcare and life sciences investors | 124 | $1.34bn | $1.6M | Precision Neuroscience Corp $250M |
| Real estate39 real estate investors | 157 | $952M | $2.5M | Dream Finders Homes, Inc. $225M |
| Financial services296 financial services investors | 40 | $919M | $8.2M | Longtail Insurance Holdings Ltd. $416M |
| Industrials122 industrials and manufacturing investors | 30 | $202M | $1M | Crucible Topco, L.P. $96.4M |
| Energy204 energy and utilities investors | 30 | $167M | $1.8M | Whisper Aero Inc. $46.3M |
| Business services77 business and professional services investors | 13 | $53.6M | $500K | Tenet Water Holdings, LLC $15M |
| Consumer58 food and beverage investors | 25 | $28.1M | $250K | Pinthouse CP RE, LLC $5.3M |
By round size
Amount sold at the time of filing.
| Size band | Rounds | Total sold | Median round |
|---|---|---|---|
| Under $1M | 421 | $111M | $160K |
| $1M to $5M | 266 | $639M | $2.2M |
| $5M to $20M | 159 | $1.54bn | $9M |
| $20M to $50M | 44 | $1.32bn | $27M |
| $50M to $100M | 20 | $1.32bn | $62.7M |
| $100M and over | 19 | $12.47bn | $250M |
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 | 137 | $165M | $200K |
| Up to $1M | 71 | $140M | $250K |
| $1M to $5M | 10 | $41.5M | $1.3M |
| $5M to $25M | 10 | $12.4M | $375K |
| $25M to $100M | 3 | $16.8M | $3.8M |
| Over $100M | 3 | $9.3M | $2.7M |
| Declined to disclose | 690 | $17bn | $2M |
| Not applicable | 5 | $7.7M | $100K |
By company age
Years since incorporation, as filed.
| Age | Rounds | Total sold | Median round |
|---|---|---|---|
| Under 2 years | 501 | $3.1bn | $750K |
| 2 to 5 years | 181 | $11.35bn | $2M |
| Over 5 years | 247 | $2.95bn | $2.3M |
By instrument
SAFE and convertible are read from the filer's own description of the security.
| Instrument | Rounds | Total sold | Median round |
|---|---|---|---|
| Equity | 606 | $12.9bn | $2M |
| Convertible | 44 | $3.41bn | $2.8M |
| Debt | 51 | $567M | $1.7M |
| Options or warrants | 49 | $230M | $300K |
| Other | 39 | $166M | $785K |
| SAFE | 140 | $126M | $155K |
By state
The issuer's principal place of business. Top 15.
| State | Rounds | Total sold | Median round |
|---|---|---|---|
| TX | 82 | $6.38bn | $1.8M |
| CA | 143 | $3.23bn | $2.5M |
| CO | 33 | $3.18bn | $875K |
| NY | 74 | $942M | $1.5M |
| Outside US | 55 | $554M | $437K |
| FL | 65 | $506M | $750K |
| VA | 26 | $398M | $2M |
| MA | 30 | $325M | $2M |
| DE | 36 | $240M | $270K |
| NV | 16 | $209M | $1M |
| UT | 26 | $188M | $3.4M |
| GA | 25 | $160M | $1.4M |
| PA | 27 | $122M | $1.2M |
| MO | 10 | $96.4M | $4.8M |
| TN | 16 | $76.2M | $952K |
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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.
3,541 original Form D notices were filed in September 2026; 929 are operating-company rounds with money sold. Source: SEC EDGAR, Form D filings for September 2026. Data built 2026-10-02.