How much did US private companies raise in April 2025?
878 companies reported raises totalling $9.3bn on SEC Form D in April 2025. Technology was the largest sector at $2.5bn, and CA the largest state at $1.9bn. Amounts are as reported by the issuers; pooled funds are excluded.
Which industries raised the most?
Technology led with $2.5bn across 272 raises. Industries follow the SEC's own groups, folded into 7 buckets.
| Industry | Raises | Total | Share |
|---|---|---|---|
| Technology | 272 | $2.5bn | 27% |
| Health | 117 | $2.3bn | 25% |
| Other | 229 | $1.8bn | 19% |
| Real estate | 133 | $1.5bn | 16% |
| Finance | 56 | $477m | 5% |
| Consumer & industrial | 47 | $475m | 5% |
| Energy | 24 | $257m | 3% |
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 |
|---|---|---|---|---|
| Transcarent, Inc. | Denver, CO | Health | 7 Apr 2025 | $481m |
| ASC DENTAL VENTURES LLC | Wilmington, DE | Health | 16 Apr 2025 | $450m |
| Takanock, LLC | Traverse City, MI | Real estate | 30 Apr 2025 | $435m |
| AP Adhesives Acquisitions, Inc. | Forest City, CA | Other | 11 Apr 2025 | $370m |
| Acacia Property Corp 2025 | San Mateo, CA | Real estate | 7 Apr 2025 | $344m |
| Century Parent LP | Nashville, TN | Consumer & industrial | 17 Apr 2025 | $284m |
| Pathos AI, Inc. | Chicago, IL | Health | 17 Apr 2025 | $283m |
| Clearwater Analytics Holdings, Inc. | Boise, ID | Technology | 30 Apr 2025 | $262m |
| Casago Holdings, LLC | Scottsdale, AZ | Other | 30 Apr 2025 | $220m |
| LUMICELL, INC. | Newton, MA | Health | 22 Apr 2025 | $198m |
| Apex Technology, Inc. | Los Angeles, CA | Other | 16 Apr 2025 | $158m |
| Fifth Down Cap LLC | Needham, MA | Finance | 28 Apr 2025 | $145m |
| TECHTONIC MEDIA ENTERTAINMENT GROUP INC | Woodland Hills, CA | Technology | 18 Apr 2025 | $110m |
| POSITIVE IMAGE CONSULTING SERVICES INC | Buffalo, WY | Technology | 18 Apr 2025 | $110m |
| UPEXI, INC. | Tampa, FL | Other | 24 Apr 2025 | $100m |
| TensorWave Inc. | Las Vegas, NV | Technology | 8 Apr 2025 | $100m |
| Cornerstone Builders of Rockland, Inc | Springvalley, NY | Real estate | 11 Apr 2025 | $100m |
| Thyme Care, Inc. | Nashville, TN | Health | 4 Apr 2025 | $97m |
| Sanity, Inc. | San Francisco, CA | Technology | 17 Apr 2025 | $87.2m |
| AssetWatch, Inc. | Westerville, OH | Technology | 28 Apr 2025 | $74.3m |
| Cart.com, Inc. | Houston, TX | Technology | 11 Apr 2025 | $73.7m |
| IOTACOMM, INC. | Allentown, PA | Technology | 7 Apr 2025 | $73m |
| FORE US Bio Inc. | Philadelphia, PA | Health | 30 Apr 2025 | $70.4m |
| Luma Financial Technologies, LLC | Cincinnati, OH | Technology | 10 Apr 2025 | $62.9m |
| CoRegen, Inc. | Aspen, CO | Health | 21 Apr 2025 | $62.6m |
Which states raised the most?
CA led with $1.9bn across 141 raises.
| State | Raises | Total |
|---|---|---|
| CA | 141 | $1.9bn |
| CO | 35 | $671m |
| NY | 83 | $667m |
| MA | 38 | $652m |
| DE | 21 | $526m |
| MI | 15 | $515m |
| TX | 93 | $512m |
| TN | 16 | $503m |
| IL | 38 | $451m |
| FL | 59 | $301m |
| ID | 3 | $265m |
| AZ | 15 | $259m |
| PA | 24 | $228m |
| NC | 23 | $185m |
| OH | 18 | $177m |
| NV | 13 | $170m |
| UT | 14 | $140m |
| WY | 5 | $118m |
| GA | 18 | $99.7m |
| OR | 16 | $99.4m |
| WA | 23 | $91m |
| MD | 14 | $81.3m |
| IN | 14 | $71.7m |
| VA | 13 | $64.9m |
| RI | 4 | $61.8m |