How much did US private companies raise in July 2025?
870 companies reported raises totalling $14.8bn on SEC Form D in July 2025. Technology was the largest sector at $4.3bn, and CA the largest state at $4bn. Amounts are as reported by the issuers; pooled funds are excluded.
Which industries raised the most?
Technology led with $4.3bn across 245 raises. Industries follow the SEC's own groups, folded into 7 buckets.
| Industry | Raises | Total | Share |
|---|---|---|---|
| Technology | 245 | $4.3bn | 29% |
| Other | 184 | $3.4bn | 23% |
| Finance | 57 | $2.8bn | 19% |
| Real estate | 195 | $1.8bn | 12% |
| Health | 107 | $1.7bn | 11% |
| Energy | 21 | $541m | 4% |
| Consumer & industrial | 61 | $226m | 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 |
|---|---|---|---|---|
| PACIFIC LIFE INSURANCE CO | Newport Beach, CA | Finance | 21 Jul 2025 | $900m |
| Grammarly, Inc. | San Francisco, CA | Technology | 17 Jul 2025 | $672m |
| Daintree Group Partners, LP | New York, NY | Finance | 21 Jul 2025 | $570m |
| Ramp Business Corp | New York, NY | Technology | 28 Jul 2025 | $514m |
| Empery Digital, Inc. | Round Rock, TX | Other | 17 Jul 2025 | $501m |
| Mill City Ventures III, Ltd | Wayzata, MN | Finance | 27 Jul 2025 | $450m |
| Stout Holdings, L.P. | New York, NY | Other | 16 Jul 2025 | $439m |
| Grit Parent, Inc. | New York, NY | Other | 16 Jul 2025 | $434m |
| ETHZilla Corp | Palm Beach, FL | Other | 29 Jul 2025 | $425m |
| INNOVATE Corp. | New York, NY | Other | 30 Jul 2025 | $360m |
| HOUSTON AMERICAN ENERGY CORP | Houston, TX | Energy | 1 Jul 2025 | $331m |
| Kriya Therapeutics, Inc. | Morrisville, NC | Health | 31 Jul 2025 | $321m |
| CesiumAstro Inc. | Austin, TX | Technology | 3 Jul 2025 | $271m |
| Acumera Holdings, LLC | Austin, TX | Technology | 30 Jul 2025 | $220m |
| UPEXI, INC. | Tampa, FL | Other | 11 Jul 2025 | $200m |
| MapLight Therapeutics, Inc. | Redwood City, CA | Health | 18 Jul 2025 | $188m |
| Enterprise Housing Partners 47 Limited Partnership | Columbia, MD | Real estate | 10 Jul 2025 | $180m |
| SAB Biotherapeutics, Inc. | Miami Beach, FL | Health | 21 Jul 2025 | $175m |
| AI Software Holdings, LLC | St. Louis, MO | Technology | 30 Jul 2025 | $174m |
| IQHQ, Inc. | Boston, MA | Real estate | 31 Jul 2025 | $170m |
| Yrefy SLP4, LLC | Phoenix, AZ | Finance | 2 Jul 2025 | $155m |
| Starburst Labs, Inc. | Providence, RI | Technology | 18 Jul 2025 | $153m |
| GEI IX Clarity Coinvest LP | Los Angeles, CA | Finance | 3 Jul 2025 | $150m |
| Ambience Healthcare, Inc. | San Francisco, CA | Technology | 1 Jul 2025 | $140m |
| Blockratize Inc. | New York, NY | Technology | 18 Jul 2025 | $135m |
Which states raised the most?
CA led with $4bn across 135 raises.
| State | Raises | Total |
|---|---|---|
| CA | 135 | $4bn |
| NY | 79 | $3.1bn |
| TX | 88 | $2bn |
| FL | 74 | $1.1bn |
| MN | 17 | $560m |
| MA | 36 | $497m |
| NC | 21 | $497m |
| MD | 13 | $260m |
| CO | 34 | $258m |
| WA | 28 | $236m |
| GA | 24 | $218m |
| AZ | 15 | $208m |
| KS | 8 | $197m |
| MO | 8 | $192m |
| IL | 22 | $179m |
| LA | 6 | $170m |
| RI | 1 | $153m |
| TN | 12 | $138m |
| PA | 24 | $96.8m |
| UT | 15 | $78.5m |
| DE | 31 | $77.5m |
| SC | 9 | $71.3m |
| OH | 23 | $68.6m |
| NJ | 19 | $59.1m |
| ID | 4 | $53.9m |