{
  "title": "SEC Form D startup funding by state, 2026",
  "as_of": "2026-11-04",
  "total": 1812,
  "summary": "As of 2026-11-04, Zalwin tracks 1,812 Form D filings. The largest group is NY with 305 (17% of the total); the groups shown sum to $35,335,704,670 in offering size. Figures are computed from public records and refresh automatically.",
  "rows": [
    {
      "group": "NY",
      "records": 305,
      "operating_companies": 65,
      "total": 4784657507,
      "median": 5000000
    },
    {
      "group": "CA",
      "records": 271,
      "operating_companies": 89,
      "total": 6041849246,
      "median": 7075237
    },
    {
      "group": "TX",
      "records": 129,
      "operating_companies": 71,
      "total": 3778686943,
      "median": 4749999.5
    },
    {
      "group": "WA",
      "records": 125,
      "operating_companies": 15,
      "total": 671494953,
      "median": 510000
    },
    {
      "group": "DE",
      "records": 122,
      "operating_companies": 13,
      "total": 495304241,
      "median": 587159
    },
    {
      "group": "FL",
      "records": 111,
      "operating_companies": 37,
      "total": 3759811764,
      "median": 4719793.5
    },
    {
      "group": "E9",
      "records": 73,
      "operating_companies": 1,
      "total": 569044070,
      "median": 3861966
    },
    {
      "group": "MA",
      "records": 62,
      "operating_companies": 21,
      "total": 6186790344,
      "median": 8000000
    },
    {
      "group": "CT",
      "records": 57,
      "operating_companies": 8,
      "total": 1655836327,
      "median": 57464532.5
    },
    {
      "group": "IL",
      "records": 54,
      "operating_companies": 28,
      "total": 264731476,
      "median": 4300000
    },
    {
      "group": "GA",
      "records": 38,
      "operating_companies": 25,
      "total": 1548325000,
      "median": 54100000
    },
    {
      "group": "N4",
      "records": 25,
      "operating_companies": 0,
      "total": 1715880000,
      "median": 781000000
    },
    {
      "group": "CO",
      "records": 25,
      "operating_companies": 18,
      "total": 879681680,
      "median": 10040000
    },
    {
      "group": "VA",
      "records": 24,
      "operating_companies": 14,
      "total": 132340163,
      "median": 5000245
    },
    {
      "group": "PA",
      "records": 21,
      "operating_companies": 10,
      "total": 477270422,
      "median": 1112000
    },
    {
      "group": "NV",
      "records": 20,
      "operating_companies": 17,
      "total": 512852444,
      "median": 12000000
    },
    {
      "group": "MD",
      "records": 18,
      "operating_companies": 14,
      "total": 1090264876,
      "median": 5000000
    },
    {
      "group": "OH",
      "records": 18,
      "operating_companies": 14,
      "total": 530113935,
      "median": 5000000
    },
    {
      "group": "AZ",
      "records": 18,
      "operating_companies": 17,
      "total": 197649079,
      "median": 10040000
    },
    {
      "group": "TN",
      "records": 16,
      "operating_companies": 12,
      "total": 43120200,
      "median": 1500000
    }
  ]
}