Private rounds announced in 2025-Q2, aggregated from public sources.
| Sector | Rounds | Capital |
|---|---|---|
| Other Technology | 482 | $6.2B |
| Other | 551 | $4.5B |
| Biotechnology | 136 | $3.0B |
| Software / Tech | 173 | $2.7B |
| Defense | 6 | $2.7B |
| AI / ML | 60 | $1.8B |
| Business Services | 64 | $1.5B |
| Healthtech | 77 | $1.4B |
| Company | Sector | Stage | Amount | Filed |
|---|---|---|---|---|
| World View Enterprises Inc. TUCSON | Defense | Growth/Late | $2.6B | May 8 |
| First Due Holdings, Inc. MIAMI | Public Safety & Security | Growth/Late | $783.0M | Jun 27 |
| Asset Entities Inc. DALLAS | Other Technology | Growth/Late | $750.3M | May 26 |
| Kindly MD, Inc. SALT LAKE CITY | Hospitals and Physicians | Growth/Late | $711.7M | May 13 |
| Databricks, Inc. SAN FRANCISCO | AI / ML | Growth/Late | $665.7M | May 27 |
| Neuralink Corp. FREMONT | Biotechnology | Growth/Late | $649.0M | May 30 |
| Transcarent, Inc. DENVER | Other Health Care | Growth/Late | $481.0M | Apr 7 |
| Silicon Ranch Corp NASHVILLE | Other Energy | Growth/Late | $450.5M | Jun 6 |
| Asc Dental Ventures Llc WILMINGTON | Healthtech | Growth/Late | $450.0M | Apr 16 |
| SharpLink Gaming, Inc. MINNEAPOLIS | Gaming | Growth/Late | $425.0M | May 26 |
| Payward, Inc. Cheyenne | Crypto / Web3 | Series D+ | $400.0M | May 1 |
| ZUP Holdings LP NEW YORK | Investment Vehicle | Series D+ | $396.3M | Jun 4 |
| ServiceNow, Inc. SANTA CLARA | Other Technology | Series D+ | $389.1M | May 30 |
| AP Adhesives Acquisitions, Inc. FOREST CITY | Other | Series D+ | $369.6M | Apr 11 |
| Abridge AI Inc. Philadelphia | AI / ML | Series D+ | $315.9M | Jun 12 |
| DBV Technologies S.A. CHATILLON | Pharmaceuticals | Series D+ | $306.9M | Apr 7 |
| Phantom Parent, LP Jeffersonville | Other | Series D+ | $304.9M | May 20 |
| Impulse Space, Inc. Redondo Beach | Other | Series D+ | $294.5M | May 9 |
| Century Parent LP NASHVILLE | Business Services | Series D+ | $284.1M | Apr 17 |
| Pathos AI, Inc. CHICAGO | Biotechnology | Series D+ | $283.0M | Apr 17 |
| Clearwater Analytics Holdings, Inc. Boise | Software / Tech | Series D+ | $261.8M | Apr 30 |
| American Health at Home Fund I LLC MOUNT PLEASANT | Investment Vehicle | Series D+ | $250.0M | Jun 12 |
| Niantic Spatial, Inc. SAN FRANCISCO | Other Technology | Series D+ | $248.0M | May 29 |
| Casago Holdings, LLC SCOTTSDALE | Other | Series D+ | $220.1M | Apr 30 |
| American Bitcoin Corp. MIAMI | Other Technology | Series D+ | $220.1M | Jun 24 |
| Odyssey Therapeutics, Inc. BOSTON | Biotechnology | Series D+ | $214.0M | Jun 16 |
| Bitmine Immersion Technologies, Inc. LAS VEGAS | Software / Tech | Series D+ | $212.9M | Jun 30 |
| Green Energy Global Inc Pearce | Telecommunications | Series D+ | $211.0M | May 28 |
| Sidewalk Infrastructure Partners, Llc BROOKLYN | Climate / Cleantech | Series D+ | $200.0M | Apr 28 |
| Ramp Business Corp NEW YORK | Other Technology | Series D+ | $200.0M | Jun 16 |
| Lumicell, Inc. NEWTON | Biotechnology | Series D+ | $198.1M | Apr 22 |
| Lovable Labs Inc DOVER | AI / ML | Series D+ | $192.7M | Jun 27 |
| Luminary Cloud, Inc. SAN MATEO | Software / Tech | Series D+ | $172.0M | Jun 27 |
| Apex Technology, Inc. LOS ANGELES | Software / Tech | Series D+ | $158.2M | Apr 16 |
| Motive Technologies, Inc. DOVER | Software / Tech | Series D+ | $150.0M | May 20 |
| Vascular Perfusion Solutions, Inc. SAN ANTONIO | Biotechnology | Series D+ | $147.0M | May 16 |
| Swimlane, Inc. Denver | Other Technology | Series D+ | $143.0M | May 23 |
| Sierra International Network Inc IRVINE | Other Technology | Series D+ | $136.0M | May 1 |
| NewLimit, Inc. South San Francisco | Biotechnology | Series D+ | $129.8M | May 2 |
| Terra CO2 Technology Holdings, Inc. GOLDEN | Manufacturing | Series D+ | $125.4M | Jun 23 |
| Oric Pharmaceuticals, Inc. SOUTH SAN FRANCISCO | Biotechnology | Series D+ | $125.0M | May 29 |
| Kalshi Inc. NEW YORK | Other Technology | Series D+ | $125.0M | Jun 24 |
| fal - Features & Labels, Inc. San Francisco | Other Technology | Series D+ | $125.0M | May 27 |
| Observe, Inc. SAN MATEO | Other Technology | Series D+ | $124.8M | May 22 |
| Gecko Robotics, Inc. PITTSBURGH | Robotics | Series D+ | $121.5M | May 15 |
| WWS Enterprises, LLC TAMPA | Other | Series D+ | $111.9M | Jun 1 |
| Water Enhancement Technologies Solutions Inc NASHAUA | Software / Tech | Series D+ | $110.0M | May 14 |
| Greenridge Phoenix Project SANTA MONICA | Other Technology | Series D+ | $110.0M | May 14 |
| Maxx For Beauty Inc BEVERLY HILLS | Consumer / Retail | Series D+ | $110.0M | May 12 |
| Positive Image Consulting Services Inc BUFFALO | Other Technology | Series D+ | $110.0M | Apr 18 |
Largest jumps from a company's prior reported round to a round landing this quarter. Round sizes are reported figures, not modeled.
| Company | Sector | Prior round | This round | Step-up |
|---|---|---|---|---|
| Asset Entities Inc. | Other Technology | $1.5M | $750.3M | 500.2× |
| World View Enterprises Inc. | Defense | $7.5M | $2.6B | 345.3× |
| Lumicell, Inc. | Biotechnology | $2.7M | $198.1M | 72.6× |
| Vumedi, Inc. | Other Technology | $1.3M | $80.0M | 63.2× |
| Bitmine Immersion Technologies, Inc. | Software / Tech | $5.2M | $212.9M | 41.3× |
| ServiceNow, Inc. | Other Technology | $11.0M | $389.1M | 35.4× |
| Slaine Holdings LLC | Other | $1.0M | $31.8M | 31.3× |
| Payward, Inc. | Crypto / Web3 | $14.0M | $400.0M | 28.6× |
| Grove, Inc. | Other | $4.0M | $100.0M | 25.0× |
| Ocient Inc. | Other Technology | $2.0M | $48.0M | 24.0× |
| Kintsugi Ai, Inc. | AI / ML | $1.1M | $25.0M | 23.0× |
| Terra CO2 Technology Holdings, Inc. | Manufacturing | $6.0M | $125.4M | 20.8× |
Companies whose earliest reported round lands this quarter — first-time raisers, by opening round size.
| Company | Sector | Stage | Opening round | Filed |
|---|---|---|---|---|
| First Due Holdings, Inc. MIAMI | Public Safety & Security | Growth/Late | $783.0M | Jun 27 |
| Transcarent, Inc. DENVER | Other Health Care | Growth/Late | $481.0M | Apr 7 |
| SharpLink Gaming, Inc. MINNEAPOLIS | Gaming | Growth/Late | $425.0M | May 26 |
| ZUP Holdings LP NEW YORK | Investment Vehicle | Series D+ | $396.3M | Jun 4 |
| AP Adhesives Acquisitions, Inc. FOREST CITY | Other | Series D+ | $369.6M | Apr 11 |
| DBV Technologies S.A. CHATILLON | Pharmaceuticals | Series D+ | $306.9M | Apr 7 |
| Century Parent LP NASHVILLE | Business Services | Series D+ | $284.1M | Apr 17 |
| Clearwater Analytics Holdings, Inc. Boise | Software / Tech | Series D+ | $261.8M | Apr 30 |
| American Health at Home Fund I LLC MOUNT PLEASANT | Investment Vehicle | Series D+ | $250.0M | Jun 12 |
| Niantic Spatial, Inc. SAN FRANCISCO | Other Technology | Series D+ | $248.0M | May 29 |
| Casago Holdings, LLC SCOTTSDALE | Other | Series D+ | $220.1M | Apr 30 |
| American Bitcoin Corp. MIAMI | Other Technology | Series D+ | $220.1M | Jun 24 |