When a US startup raises money privately, it usually files a Form D with the SEC within 15 days of the first sale. That filing is public, it lands on EDGAR the same day, and it often shows up weeks before any press release. If you sell to newly funded companies (recruiters, banks, accountants, dev agencies, SaaS), it's the earliest public signal there is.
So we pulled two weeks of it for one sector. One run of our Funding Rounds Actor on Apify, industry "Technology", filed in the last 14 days, pooled investment funds left out:
- Time: under 2 minutes from request to rows (112 s of run time).
- Cost: about a third of a cent of compute on our side. A user pays $5 per 1,000 rounds on the Starter tier, so these 167 rows are about 84 cents.
- Coverage: 167 offerings filed between 28 October and 9 November 2026. 8 earlier filings were folded into a newer amendment of the same offering, so each round is one row.
Every number below comes from that one run. Form D data is public domain (a US government record).
The input
{ "lastDays": 14, "industries": ["technology"], "maxResults": 1000, "excludeFunds": true, "includeAmendments": true } excludeFunds drops filings from pooled investment funds, which otherwise make up a big share of Form D volume and aren't companies you can sell to. Add "onlyNew": true on a weekly schedule and each run returns only the rounds you haven't seen.
The Python
from apify_client import ApifyClient from statistics import median client = ApifyClient("YOUR_APIFY_TOKEN") run = client.actor("locaihost/funding-rounds").call(run_input={ "lastDays": 14, "industries": ["technology"], "maxResults": 1000, "excludeFunds": True, "includeAmendments": True, }) rounds = list(client.dataset(run["defaultDatasetId"]).iterate_items()) sold = [r["totalAmountSold"] for r in rounds if r["totalAmountSold"] is not None] print(len(rounds), "rounds, median sold:", median(sold)) print("SAFEs:", sum(1 for r in rounds if r["isSafe"])) Each row has the company name, industry group, amount sold so far, total offering size, security types (with a SAFE flag), filing and first-sale dates, number of investors, the exemption used, year of incorporation, city and state, and links to the filing on EDGAR. Related persons (directors and promoters listed on the form) are never returned.
1. The median raise was $1M, and five companies took more than half
The 167 offerings had sold $1.27 billion between them at the time of filing. The biggest single filing, Legora, reported $220.8M sold, about 17% of the total. The top five together had 54%.
| Amount sold at filing | Offerings |
|---|---|
| Nothing yet | 6 |
| Under $250k | 46 |
| $250k to $1M | 27 |
| $1M to $5M | 44 |
| $5M to $20M | 35 |
| $20M or more | 9 |
The median was exactly $1,000,000. So the typical tech Form D is a seed round, not the headline raises that get written up.
2. 3 in 10 were SAFEs, and those were small
48 of the 167 (29%) were simple agreements for future equity, which the form files under "Other". Their median was $237,500, about a quarter of the overall median. Plain equity was the most common type (67 offerings on its own, more in combination with options or debt).
Investor counts were small too. The median offering had 4 investors, and 42 had exactly one. Only 16 had more than 20.
3. Young companies, mostly in the usual places
| Year incorporated | Offerings |
|---|---|
| 2026 | 52 |
| 2025 | 35 |
| 2024 | 16 |
| 2023 | 20 |
| 2022 or earlier, or not stated | 44 |
133 of the 167 ticked "incorporated within the last five years", and 52 were incorporated this year. By business address, California led (33), then Massachusetts (15), Texas (14), New York (13), Delaware (11) and Colorado (10). Five filers were based outside the US, one each in the UK, Germany, Austria, Canada and Israel.
4. Almost nobody says what they earn
| Revenue range on the form | Offerings |
|---|---|
| Decline to disclose | 131 |
| No revenues | 21 |
| $1 to $1M | 11 |
| $1M to $5M | 2 |
| $5M to $25M | 2 |
78% declined to disclose. The form allows it, and most issuers take the option. Only one of the 167 reported paying any sales commission or finder's fee, and 162 used Rule 506(b), the exemption that doesn't allow general advertising.
Honest limits
- "Technology" is the company's own pick. The industry group is self-chosen on the form, so a therapeutics company can file as "Other Technology" (one did). Filter by name or check the filing if the sector matters.
- Amount sold is at filing time. A round often keeps selling after the first filing; amendments update it. We merge an offering's original and its amendments into one row with the newest figures.
- Not every raise files. Some rounds use other exemptions, file late or never file. Form D is a strong signal, not a complete census.
- No people. The Actor drops the related-persons section and any person-named trusts. If you need contacts, that's a different job.
Price
Funding Rounds costs $5 per 1,000 rounds on the Starter tier, less on Scale and Business, plus a one-time start fee of $0.00005. It covers every Form D on EDGAR, with filters for state, country, industry, security type, amount and first-time filers. Try it here: apify.com/locaihost/funding-rounds.
