Insights
CAPITAL RAISED · 12 MO
$24.64B
Index coverage begins Jan 2025
FILINGS
1,268
MEDIAN ROUND
$2.3M
FIRST-TIME FILERS
817
DEBT SHARE
16.6%
Sector momentum
Trailing 6 mo · Index coverage begins Jan 2025
SECTORCAPITALMEDIAN
AI131
$4.22B
$3.5M
Defense27
$2.80B
$10.9M
Biotech172
$2.75B
$3.5M
Fintech76
$2.18B
$3.2M
Hardware49
$1.34B
$6.6M
Healthcare143
$1.33B
$1.0M
Sectors ranked by capital raised in the last 6 months
Capital flow
Monthly Form D capital
PEAK
$5.66B
A
S
O
N
D
J
F
M
A
M
J
J
Aug 2025 – Jul 2026$24.64B
Median month$984.8M
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 cadence29 views
Cognitive Network SolutionsIn window
—· Sep 22, 2025 · ~6 mo cadence29 views
Viken DetectionIn window
$5.0M· Oct 10, 2025 · ~6 mo cadence22 views
Municipal Parking ServicesIn window
$500K· Sep 9, 2025 · ~7 mo cadence27 views
Claris BiotherapeuticsIn window
$2.3M· Sep 22, 2025 · ~7 mo cadence33 views
OrationIn window
$48K· Oct 10, 2025 · ~6 mo cadence34 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
Altera.ALAI · $31.0M · Feb 2025
621
fal - Features & LabelsAI · $125.0M · Aug 2025
393
SiteVue AIAI · $7.0M · May 2026
78
Medici TherapeuticsBiotech · $14.8M · Dec 2025
76
Pavo AIAI · $3.0M · Mar 2025
59
Blue Marlin Data FundOther · Jan 2025
56
Where capital is moving
Top metros by trailing 12 mo capital
New YorkNY · 70 filings
$3.90B16.1%
San FranciscoCA · 52 filings
$3.26B13.4%
AustinTX · 34 filings
$1.86B7.7%
BostonMA · 25 filings
$1.12B4.6%
DoverDE · 16 filings
$946.0M3.9%
San DiegoCA · 12 filings
$802.2M3.3%
Shares are of the $24.27B filed from a US address · Index coverage begins Jan 2025
Raises that grew
Form D/A amendments that raised the reported total
Rigora ClinicalHealthcare · Aug 4, 2026
$50K→$305K+510%
Kiken TechnoloigiesCybersecurity · Aug 4, 2026
$116K→$131K+13%
KEA CloudAI · Aug 3, 2026
$13.7M→$15.9M+16%
CND Life SciencesHealthcare · Aug 3, 2026
$4.3M→$6.3M+46%
First-time filers
First filing on record · 817 companies since Aug 2025
Kiken TechnoloigiesCybersecurity
$116KJul 28, 2026
Violet AIMedia
$2.0MJul 17, 2026
Rigora ClinicalHealthcare
$50KJul 17, 2026
VerkadaHardware
$41.2MJul 10, 2026
Benchmark a raise
Put a round against the last 12 months of comparable filings
AMOUNT
SECTOR
STATE
PERCENTILE50th
1,117 comparable filings$15 – $1.10B
$2.3M
$400K$2.3M$10.3M
A $2.3M 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
