List of Recently Funded Series D Startups (2025)

Series D Startups are in hyper-scale mode and they’re not slowing down.

These are late stage companies with proven traction, serious revenue, and massive rounds often exceeding $100 million. They’re entering new markets, acquiring competitors, expanding internationally, and preparing for IPO or major exits.

At Fundraise Insider, we track every newly funded Series D startup across the US and deliver verified contact info for the founders, C-suite, and key department heads behind their next phase of growth – the best sales prospecting leads.

At this stage, they’re building enterprise operations, hiring senior leaders, consolidating platforms, and partnering with vendors who can support global scale and complexity.

Below is a free preview of recently funded Series D companies. Want full access to every new Series D deal each week plus verified emails and LinkedIn contacts of the people leading the charge?

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Recently Funded Series D Startups

Download the full list of funded startups (for c-suite contacts, click here)

Other Recently Funded Startups Data

Series D Startup Funding: Statistics and Trends Data

These insights map the mid-late-stage funding landscape, spotlighting the dominance of IT Services in California and the pacing of Series D deployments across the quarter.

Total Series D Startup Funding Rounds and Timeline

  • 22 financings from January 13 to April 16, 2025.

Series D Startup Funding Checks

  • Mean: $158.4 M | Median: $102.5 M
  • Interquartile Range: $46.25 M (25th) to $250 M (75th)
  • Range: $0 (1 undisclosed) to $480 M

Monthly Series D Startup Funding Trends

  • January: 3 rounds, $235 M total
  • February: 8 rounds, $1.173 B
  • March: 8 rounds, $2.114 B
  • April (to 4/16): 3 rounds, $0.475 B

Top Industries by Series D Funding Round Count

  1. Information Technology and Services: 12 rounds
  2. Hospital and Health Care: 3
  3. Research: 2
  4. Defense and Space: 2
  5. Biotechnology: 1

Top Industries by Series D Total Capital

  1. Information Technology and Services: $1.903 B
  2. Hospital and Health Care: $0.495 B
  3. Research: $0.431 B
  4. Defense and Space: $0.250 B
  5. Biotechnology: $0.205 B

Geographic Concentration of Series D Startup Funding Rounds

  • By Deal Count: California (14), New York (3), Pennsylvania (2), Alabama (1), Massachusetts (1)
  • By Deployed Capital: California ($1.976 B), New York ($0.523 B), Alabama ($0.450 B), Pennsylvania ($0.300 B), Minnesota ($0.175 B)

Series D Startup Funding: Growth Curves Across Top Industries Compared

Monthly Series D Funding by Top Industries
The growth curves for the top five Series D startup industries show:
  • Information Technology and Services (pink) surged from $100 M in January to $900 M in February, then gradually declined to $420 M by April, highlighting a strong early quarter peak.
  • Hospital and Health Care (red) rose steadily from $110 M to $390 M in February before tapering to $180 M by April, a smooth “hill” pattern.
  • Research (blue) spiked to $400 M in February then fell off sharply, with no March/April activity, indicating a one off boost.
  • Defense and Space (orange) and Biotechnology (gold) both had modest activity concentrated in two to three months, peaking at $60 M and $50 M, respectively.

Key Takeaways:

  • Early Surge Sectors: IT Services and Hospital and Health Care are most active early in the quarter.
  • Short-Lived Peaks: Research offers big but quick opportunities; timing is critical.
  • Consistent Mid-Range Deals: Defense and Space and Biotechnology deliver smaller, steadier capital flows.

Exceptionally Large and Small Series D Startup Funding Rounds

Exceptionally Small Series D Startup Funding Rounds (≤ $30 M, 5th percentile threshold)

  • Vouch: $25 M on 2025-02-13
  • Clear Labs: $30 M on 2025-01-13

No Exceptionally Large Series D Outliers

  • Using an IQR-based upper threshold of $555.6 M, there are no rounds exceeding this amount.

Strategic Takeaways For Series D Startups Funded

Average Series D Startups Deal Size by Industry

  • Defense and Space: $250 M
  • Information Technology and Services: $211.4 M
  • Hospital and Health Care: $165 M
  • Research: $143.6 M
  • Biotechnology: $102.5 M

Average Series D Startups Funding Deal Size by State

  • Alabama: $450 M (driven by a single large round)
  • Minnesota: $175 M
  • New York: $174.3 M
  • Pennsylvania: $150 M
  • California: $141.1 M

Industry-State Clusters for Series D Startup Funding

Information Technology and Services:

  • California: 6 rounds @ $182.5 M avg
  • New York: 1 round @ $308 M
  • Alabama: 1 round @ $450 M

Hospital and Health Care:

  • Pennsylvania: 1 round @ $250 M
  • New York: 1 @ $140 M
  • California: 1 @ $105 M

Research:

  • California: 3 rounds @ $143.6 M avg

Defense and Space:

  • California: 1 @ $250 M

Biotechnology:

  • Minnesota: 1 @ $175 M
  • California: 1 @ $30 M

Strategic Takeaways:

  • High-Value Niches: Defense & Space and IT & Services in markets like Alabama and New York show outsized check sizes.
  • Volume Hubs: California drives the most Series D activity across multiple sectors with solid mid-range averages.
  • Selective Markets: States like Minnesota and Pennsylvania offer niche biotech and healthcare rounds with above average checks.

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