Startup funding report: October 2026

In October 2026, 1,410 US companies filed a new Form D with the SEC, reporting $17.9B raised (+6% in companies vs September 2026). The median round was $1.2M, 46% of rounds were under $1M, and 75% of the companies were founded in the last five years. Technology led by number of rounds (359). California led the states with 198.

Companies that raised

1,410

+6% vs Sep

Reported raised

$17.9B

−18% vs Sep

Median round

$1.2M

$1.5M in Sep

New investment funds

2,267

Latest funds →

Companies raising per monthNew Form D offerings by operating companies

1,163

Nov

1,341

Dec

1,450

Jan 26

1,181

Feb

1,420

Mar

1,559

Apr

1,285

May

1,355

Jun

1,365

Jul

1,230

Aug

1,332

Sep

1,410

Oct

Show as table

Month	Companies
Nov	1,163
Dec	1,341
Jan 26	1,450
Feb	1,181
Mar	1,420
Apr	1,559
May	1,285
Jun	1,355
Jul	1,365
Aug	1,230
Sep	1,332
Oct	1,410

Round sizeShare of rounds with reported sales

Under $250K289 (25%)

$250K–$1M238 (21%)

$1M–$5M325 (28%)

$5M–$20M201 (17%)

$20M–$100M80 (7%)

$100M+24 (2%)

Show as table

Amount raised	Rounds
Under $250K	289 (25%)
$250K–$1M	238 (21%)
$1M–$5M	325 (28%)
$5M–$20M	201 (17%)
$20M–$100M	80 (7%)
$100M+	24 (2%)

By sectorNumber of rounds · amount raised

Technology359 · $5.4B

Real estate331 · $1.6B

Other299 · $2.8B

Health care139 · $1.2B

Financial services99 · $818M

Energy68 · $3.2B

Business services38 · $2.5B

Manufacturing36 · $354M

Retail and restaurants29 · $52.9M

Travel and leisure6 · $8.4M

Show as table

Sector	Rounds · raised
Technology	359 · $5.4B
Real estate	331 · $1.6B
Other	299 · $2.8B
Health care	139 · $1.2B
Financial services	99 · $818M
Energy	68 · $3.2B
Business services	38 · $2.5B
Manufacturing	36 · $354M
Retail and restaurants	29 · $52.9M
Travel and leisure	6 · $8.4M
Agriculture	6 · $1.5M

Top statesNumber of rounds · amount raised

California198 · $3.2B

Texas154 · $1.5B

New York139 · $7.9B

Florida81 · $514M

Colorado51 · $207M

Massachusetts48 · $312M

North Carolina42 · $172M

Georgia41 · $218M

Delaware38 · $47.2M

Illinois38 · $103M

Show as table

State	Rounds · raised
California	198 · $3.2B
Texas	154 · $1.5B
New York	139 · $7.9B
Florida	81 · $514M
Colorado	51 · $207M
Massachusetts	48 · $312M
North Carolina	42 · $172M
Georgia	41 · $218M
Delaware	38 · $47.2M
Illinois	38 · $103M

The 20 largest rounds

Company	Industry	Raised	Security	Filed
Resurge TopCo LPNew York, NY · Founded 2026	Other Energy	$2.5B	Equity	Oct 22
Project Evergreen TopCo LPNew York, NY · Founded 2026	Business Services	$2.4B	Equity	Oct 19
Ramp Business CorpNew York, NY	Other Technology	$1.6Bof $1.9B	Equity	Oct 16
Modal Labs, Inc.New York, NY	Other Technology	$602Mof $800M	Equity	Oct 20
Angle Health, Inc.San Francisco, CA	Other	$592Mof $600M	Equity	Oct 29
McDermott International, LtdHouston, TX	Construction	$500M	Equity	Oct 5
Faraday Copper Corp.Vancouver, British Columbia, Canada	Other	$445M	Equity	Oct 30
Lisata Therapeutics, Inc.Basking Ridge, NJ	Biotechnology	$352M	Equity, Security to be acquired on exercise	Oct 2
Formfactor Inc.Livermore, CA	Other Technology	$300M	Equity	Oct 20
Armadin, Inc.Menlo Park, CA · Founded 2025	Other Technology	$265M	Equity	Oct 15
Xona Space Systems Inc.Burlingame, CA	Other	$239Mof $253M	Equity	Oct 23
Warp Sciences Inc.Portola Valley, CA · Founded 2026	Other Technology	$195Mof $218M	Equity	Oct 26
General Intuition Holding B.V.Naarden, Netherlands	Other Technology	$175Mof $220M	Equity	Oct 2
WaveDivision Capital XIX, LLCKirkland, WA · Founded 2026	Other	$163M	Equity, Other	Oct 21
Onebrief, Inc.Honolulu, HI	Other Technology	$151Mof $250M	Equity	Oct 14
CScale, Inc.Palo Alto, CA · Founded 2022	Other Technology	$145Mof $195M	Equity	Oct 1
Send Cut Send, Inc.Reno, NV	Manufacturing	$140M	Equity, Options or warrants	Oct 23
Hertha Metals, Inc.Conroe, TX · Founded 2022	Other	$134M	Equity	Oct 27
General Compute Inc.San Francisco, CA · Founded 2025	Other Technology	$132M	Equity	Oct 30
Gateway Royalty VII, LLCMidland, TX · Founded 2024	Oil and Gas	$131M	Equity	Oct 8