Insights
CAPITAL RAISED · 12 MO
$28.83B
Index coverage begins Jan 2025
FILINGS
1,452
MEDIAN ROUND
$2.6M
FIRST-TIME FILERS
990
DEBT SHARE
15.1%
Sector momentum
Trailing 6 mo · Index coverage begins Jan 2025
SECTORCAPITALMEDIAN
AI162
$5.79B
$3.8M
Biotech199
$3.80B
$3.9M
Defense32
$2.93B
$18.4M
Fintech103
$2.48B
$3.0M
Hardware72
$2.02B
$3.8M
Healthcare169
$1.55B
$1.5M
Sectors ranked by capital raised in the last 6 months
Capital flow
Monthly Form D capital
PEAK
$5.68B
S
O
N
D
J
F
M
A
M
J
J
A
Sep 2025 – Aug 2026$28.83B
Median month$1.70B
Largest filing · Baseten Labs$1.10B
Raise window
Companies whose filing cadence puts them in a raise window
GliknikIn window
$11.0M· Aug 21, 2025 · ~7 mo cadence4 views
Viken DetectionIn window
$5.0M· Oct 10, 2025 · ~6 mo cadence4 views
Cognitive Network SolutionsIn window
—· Sep 22, 2025 · ~6 mo cadence1 views
Municipal Parking ServicesIn window
$500K· Sep 9, 2025 · ~7 mo cadence3 views
Claris BiotherapeuticsIn window
$2.3M· Sep 22, 2025 · ~7 mo cadence5 views
OrationIn window
$48K· Oct 10, 2025 · ~6 mo cadence2 views
Window opens at 0.8× a company's own median gap between filings · median gaps under 6 months excluded
Trending on tinytech
Most-viewed profiles · last 30 days
fal - Features & LabelsAI · $125.0M · Aug 2025
56
MachGen AIAI · $10.0M · Apr 2026
33
Pavo AIAI · $3.0M · Mar 2025
29
Reprogram BiosciencesBiotech · $5.0M · May 2026
28
AionicsAI · $502K · Apr 2026
26
Alpha Design AIAI · $59.8M · Jul 2026
20
Where capital is moving
Top metros by trailing 12 mo capital
New YorkNY · 85 filings
$4.31B15.1%
San FranciscoCA · 57 filings
$3.27B11.5%
AustinTX · 37 filings
$1.66B5.8%
BostonMA · 29 filings
$1.64B5.7%
CambridgeMA · 25 filings
$1.04B3.7%
San JoseCA · 11 filings
$1.01B3.5%
Shares are of the $28.46B filed from a US address · Index coverage begins Jan 2025
Raises that grew
Form D/A amendments that raised the reported total
NamsoftFintech · Sep 14, 2026
$200K→$3.8M+1,800%
SmartStory TechnologiesHealthcare · Aug 31, 2026
$1.5M→$3.8M+150%
NucleinHealthcare · Aug 14, 2026
$1.3M→$9.3M+615%
Rigora ClinicalHealthcare · Aug 4, 2026
$50K→$305K+510%
First-time filers
First filing on record · 990 companies since Sep 2025
GreptileAI
$40.0MAug 31, 2026
KoxaFintech
$8.7MAug 31, 2026
Intelligent MappingHardware
$3.0MAug 31, 2026
GlassHouseSaaS
$2.2MAug 31, 2026
Benchmark a raise
Put a round against the last 12 months of comparable filings
AMOUNT
SECTOR
STATE
PERCENTILE50th
1,297 comparable filings$15 – $1.10B
$2.6M
$450K$2.6M$11.0M
A $2.6M round sits in the 50th percentile of the last 12 months
Grant → raise pipelinePLANNED
SBIR and NIH awards matched to the company's later Form D
Hiring velocityPLANNED
Headcount change in the 90 days after a round closes
S-1 graduationsPLANNED
Private filers that go on to register a public offering
