How much did US private companies raise in February 2025?
729 companies reported raises totalling $9bn on SEC Form D in February 2025. Technology was the largest sector at $2.8bn, and CA the largest state at $3.1bn. Amounts are as reported by the issuers; pooled funds are excluded.
Which industries raised the most?
Technology led with $2.8bn across 227 raises. Industries follow the SEC's own groups, folded into 7 buckets.
| Industry | Raises | Total | Share |
|---|---|---|---|
| Technology | 227 | $2.8bn | 31% |
| Consumer & industrial | 43 | $2.3bn | 26% |
| Health | 111 | $1.6bn | 18% |
| Other | 148 | $1.2bn | 14% |
| Real estate | 139 | $619m | 7% |
| Finance | 43 | $292m | 3% |
| Energy | 18 | $167m | 2% |
What were the largest raises?
The 25 largest filings of the month, with the issuer's own SEC record linked where the filing index is known.
| Company | Where | Industry | Date | Amount |
|---|---|---|---|---|
| TEMPUR SEALY INTERNATIONAL, INC. | Lexington, KY | Consumer & industrial | 5 Feb 2025 | $2.2bn |
| Shield AI Inc | San Diego, CA | Technology | 7 Feb 2025 | $592m |
| Econic Partners LLC | Los Angeles, CA | Other | 7 Feb 2025 | $438m |
| Eikon Therapeutics, Inc. | Hayward, CA | Health | 14 Feb 2025 | $351m |
| Saronic Technologies, Inc. | Austin, TX | Technology | 14 Feb 2025 | $348m |
| Counsel AI Corp | San Francisco, CA | Technology | 11 Feb 2025 | $300m |
| Tectonic Therapeutic, Inc. | Watertown, MA | Health | 5 Feb 2025 | $185m |
| Koch, Inc. | Wichita, KS | Other | 28 Feb 2025 | $184m |
| Celestial AI Inc. | Santa Clara, CA | Technology | 25 Feb 2025 | $148m |
| Drata Inc. | San Diego, CA | Technology | 20 Feb 2025 | $127m |
| Caban Systems Holding, Inc. | Burlingame, CA | Technology | 21 Feb 2025 | $123m |
| Aligos Therapeutics, Inc. | South San Francisco, CA | Health | 11 Feb 2025 | $105m |
| Newleos Therapeutics, Inc. | Boston, MA | Health | 10 Feb 2025 | $93.4m |
| Abcuro, Inc. | Newton, MA | Health | 7 Feb 2025 | $80m |
| Vivodyne, Inc. | Brisbane, CA | Technology | 3 Feb 2025 | $77.7m |
| Castle Creek Biosciences, Inc. | Exton, PA | Health | 24 Feb 2025 | $75m |
| Radiant Industries, Inc | El Segundo, CA | Energy | 13 Feb 2025 | $66m |
| V-Three Retail Holdings LLC | Little Rock, AR | Other | 5 Feb 2025 | $59.1m |
| Fabric8Labs, Inc. | San Diego, CA | Technology | 19 Feb 2025 | $56m |
| Bambusa Therapeutics, Inc. | Boston, MA | Health | 12 Feb 2025 | $53.3m |
| ABCS Insights Inc | Kissimmee, FL | Other | 5 Feb 2025 | $50m |
| CloudZero Inc. | Boston, MA | Technology | 5 Feb 2025 | $48m |
| Standard Nuclear, Inc. | Oak Ridge, TN | Energy | 13 Feb 2025 | $42.5m |
| Magnus Medical, Inc. | Burlingame, CA | Health | 7 Feb 2025 | $40.3m |
| n3xt inc | Charlotte, NC | Technology | 7 Feb 2025 | $40.3m |
Which states raised the most?
CA led with $3.1bn across 126 raises.
| State | Raises | Total |
|---|---|---|
| CA | 126 | $3.1bn |
| KY | 1 | $2.2bn |
| MA | 38 | $713m |
| TX | 71 | $584m |
| NY | 65 | $339m |
| KS | 3 | $195m |
| PA | 15 | $175m |
| NC | 31 | $161m |
| FL | 40 | $143m |
| TN | 10 | $122m |
| NJ | 15 | $116m |
| CO | 31 | $115m |
| UT | 14 | $107m |
| WA | 23 | $98m |
| VA | 20 | $87.8m |
| AZ | 17 | $76.2m |
| DE | 19 | $73.8m |
| AR | 4 | $70.1m |
| MN | 18 | $57.7m |
| GA | 16 | $55.7m |
| MI | 12 | $52.8m |
| NV | 6 | $45.3m |
| OR | 7 | $44.2m |
| IL | 16 | $39m |
| IN | 9 | $30.1m |