Form D (Funding)

SEC Form D is the notice of exempt offering filed by companies and investment funds raising capital under Regulation D. Filers must submit Form D within 15 days of the first sale of securities — often weeks before a funding round is publicly announced via press release or Crunchbase.

We pull every new Form D and Form D/A (amendment) filing from SEC EDGAR once per business day. Each filing is parsed, resolved to the company behind it (website, LinkedIn, firmographics), and enriched with an AI summary and relevance score. Volume is roughly 1,000–1,300 filings per week across operating companies and pooled investment funds.

This signal gives you a 2-6 week head start on outreach compared to news-based funding signals. When Crunchbase or TechCrunch announces a round, the Form D signal will already exist from weeks earlier.

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See real delivered data → Sample Files

Each filing is classified by filing type (new vs. amendment) and filer type (operating company vs. pooled investment fund):

Subtype Enum	Description	Share of volume
`newFilingCompany`	New Form D filed by an operating company — the company has started a new exempt offering	~28%
`amendmentCompany`	Form D/A filed by an operating company — an existing offering was amended (e.g., more raised, investors added)	~7%
`newFilingFund`	New Form D filed by a pooled investment fund (VC, PE, hedge, real estate, other fund vehicles)	~36%
`amendmentFund`	Form D/A filed by a pooled investment fund	~29%

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Looking for startups that just raised? Filter to newFilingCompany (and optionally amendmentCompany). The *Fund subtypes cover fund vehicles; for those, the resolved company is usually the fund manager (resolved_entity_type: fund_manager).

Example Signal

What a single entry looks like in a delivered signal file (real filing, abbreviated):

{
  "signal_id": "fd-0002088132-26-000002",
  "batch_id": "583f0830-6d35-42a2-90b4-41f6fcf15bc0",
  "signal_type": "sec-form-d-funding",
  "signal_subtype": "newFilingCompany",
  "detected_at": "2026-08-31T00:00:00.000Z",
  "association": "company",
  "company": {
    "name": "Modal",
    "domain": "modal.com",                          // match on domain
    "linkedin_url": "linkedin.com/company/modal-labs", // or match on LinkedIn URL
    "industries": [
      "Software Development"
    ],
    "employee_count_low": null,
    "employee_count_high": null,
    "description": "Modal provides a serverless infrastructure platform designed for machine learning and data science teams to run compute-intensive workloads..."
  },
  "contact": null,
  "data": {
    "summary": "Modal Labs builds high-performance AI infrastructure and a production cloud/runtime for developers to run inference, training, batch jobs, and sandboxes with instant autoscaling. The company raised about $205.0 million in a Form D filing, which is a significant signal for vendors selling AI infrastructure, cloud, and developer tools.",
    "detail": "This size of raise suggests Modal is in a rapid growth phase and likely scaling its platform, GPU capacity, and enterprise go-to-market efforts. Based on its website, capital will likely support infrastructure expansion, reliability/observability, and product development for production AI workloads. B2B vendors should pay attention to opportunities in cloud compute, GPUs, networking, security, observability, and enterprise software partnerships.",
    "relevance": 0.99,
    "confidence": "high",
    "primary_topic": "AI Infrastructure Funding",
    "topics": [
      "SaaS Funding",
      "AI Infrastructure",
      "Cloud Compute",
      "Developer Tools",
      "Enterprise Growth"
    ],
    "source_url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002088132&type=D&dateb=&owner=include&count=40",
    "filing_url": "https://www.sec.gov/Archives/edgar/data/2088132/000208813226000002/",
    "accession_number": "0002088132-26-000002",
    "cik": "0002088132",
    "entity_name": "Modal Labs, Inc.",
    "resolved_entity_name": "Modal Labs",
    "resolved_entity_type": "operating_company",
    "company_domain_confidence": 10,
    "form_type": "D",
    "file_date": "2026-08-31",
    "sic_code": null,
    "sic_description": null,
    "business_state": "NY",
    "business_location": "New York, NY",
    "tickers": [],
    "website": "https://modal.com",
    "sentiment": null,
    "pain_points_extracted": null,
    "use_cases_extracted": null,
    "outreach_hooks": null,
    "tags": null,
    "entity_type": "Corporation",
    "industry_group": "Other Technology",
    "investment_fund_type": null,
    "jurisdiction": "DELAWARE",
    "year_of_incorporation": null,
    "location": "NEW YORK, NEW YORK",
    "phone": "(917) 940-8790",
    "total_offering_amount": 204999900,
    "total_amount_sold": 204889993,
    "total_remaining": 109907,
    "minimum_investment": null,
    "total_investors": 41,
    "has_non_accredited_investors": false,
    "revenue_range": "Decline to Disclose",
    "aggregate_net_assets": null,
    "securities_types": [
      "Equity"
    ],
    "exemptions": [
      "06b"
    ],
    "related_persons": [
      {
        "name": "Erik Bernhardsson",
        "roles": [
          "Executive Officer",
          "Director"
        ],
        "email": "[email protected]",
        "linkedin_url": "linkedin.com/in/erikbern"
      },
      {
        "name": "Akshat Bubna",
        "roles": [
          "Executive Officer"
        ],
        "email": "[email protected]",
        "linkedin_url": "linkedin.com/in/akshat-bubna-188885103"
      },
      {
        "name": "Sarah Catanzaro",
        "roles": [
          "Director"
        ],
        "email": null,
        "linkedin_url": null
      }
    ]
  }
}

Field Reference

Standard envelope and entity fields are shared across all signals — see Schema and Resolution. Notes specific to Form D:

signal_id is fd-{accession_number} — stable across re-deliveries, one per filing.
batch_id is a UUID identifying the delivery run.
detected_at is the SEC filing date at 00:00 UTC (same day as data.file_date).
contact is always null — this is a company-level signal. People on the filing are in data.related_persons.
company is filled when the filer resolves to a company (~55% of rows have company.domain). Unresolved filers have company fields set to null. In JSONL files, empty company keys may be omitted; in Parquet files every column is always present.

Signal-Specific Fields

The data object contains everything unique to this signal type — the fields parsed from the SEC filing plus AI enrichment. Every key below is present on every row (value may be null).

Field	Type	Description
`accession_number`	string	SEC EDGAR accession number — the unique filing identifier. Format: `{CIK}-{YY}-{sequence}`. Useful for deduplication and linking back to the original filing
`cik`	string	SEC Central Index Key for the filing entity. The SEC's canonical filer identifier
`entity_name`	string	Legal entity name as filed with the SEC (e.g., "Modal Labs, Inc.")
`resolved_entity_name`	string \| null	Clean name of the company we resolved the filer to (e.g., "Modal Labs"). For fund filings this is usually the fund manager
`resolved_entity_type`	string	What the filer resolved to: `operating_company`, `fund_manager`, `parent_company`, or `unresolvable`
`company_domain_confidence`	integer (0–10)	Confidence of the filer-to-company domain match. `company` fields (domain, name, LinkedIn, firmographics) are only populated when this is 8 or higher
`form_type`	string	`D` for new filings, `D/A` for amendments. Amendments indicate an offering is progressing (more money raised, new investors added)
`file_date`	string (date)	Date the Form D was filed with the SEC. This is typically within 15 days of first sale — use it to estimate when the round actually closed
`summary`	string	1–2 sentence description of the filer and the raise, including amount when disclosed. Present on every row
`detail`	string \| null	2–4 sentence analysis of what the raise means commercially and what vendors the company will likely need. Present on ~56% of rows (filings resolved to a company)
`relevance`	float (0.0–1.0) \| null	How actionable this signal is for B2B outreach. Factors in company stage, industry, amount raised, and commercial potential. Higher = stronger opportunity. Present on ~56% of rows (filings resolved to a company)
`confidence`	string \| null	How certain the enrichment is: `high` or `medium`. Present on ~56% of rows (filings resolved to a company)
`primary_topic`	string \| null	Primary topic classification (e.g., "AI Infrastructure Funding", "Venture Capital Fundraise", "Biotech Fundraise"). Useful for routing
`topics`	array[string] \| null	Topic tags for filtering and search. Includes industry, stage, and keyword tags
`source_url`	string (URL)	Link to the filer's SEC EDGAR filing index. Useful for displaying to users or manual verification
`filing_url`	string (URL)	Direct link to the specific filing on EDGAR
`business_state`	string \| null	US state (2-letter) of the filer's business address. Empty on ~6% of rows
`business_location`	string	City and state combined (e.g., "New York, NY"). Useful for geographic targeting
`website`	string \| null	Company website URL resolved for the filer. Null when no company was resolved
`entity_type`	string	Legal entity type: Corporation, Limited Liability Company, Limited Partnership, Business Trust, General Partnership, or Other
`industry_group`	string	Industry group selected on the Form D (e.g., "Other Technology", "Biotechnology", "Pooled Investment Fund")
`investment_fund_type`	string \| null	For fund filers: Venture Capital Fund, Private Equity Fund, Hedge Fund, or Other Investment Fund. Null for operating companies
`jurisdiction`	string	Jurisdiction of incorporation as filed, in full (e.g., "DELAWARE")
`year_of_incorporation`	string \| null	Year the entity was incorporated, when the filing states a specific year
`location`	string	Full location string as filed (e.g., "NEW YORK, NEW YORK")
`phone`	string \| null	Filer phone number from the filing
`total_offering_amount`	integer \| null	Total amount the filer is seeking to raise in this offering (USD). Null when "Indefinite" is checked on the filing
`total_amount_sold`	integer \| null	Amount actually raised to date (USD)
`total_remaining`	integer \| null	Remaining amount to be raised (USD). Non-zero means the round is still open
`minimum_investment`	integer \| null	Minimum investment accepted per investor (USD)
`total_investors`	integer \| null	Number of investors who have purchased
`has_non_accredited_investors`	boolean	Whether non-accredited investors participated. Rare in institutional rounds
`revenue_range`	string \| null	Revenue range as filed (e.g., "Decline to Disclose", "No Revenues", "$1,000,001 - $5,000,000")
`aggregate_net_assets`	string \| null	Fund net asset range as filed (fund vehicles only)
`securities_types`	array[string]	Types of securities offered: `Equity`, `Debt`, `PooledInvestmentFund`, `Other`
`exemptions`	array[string]	Exemptions claimed (e.g., `06b` = Rule 506(b), `06c` = Rule 506(c), `3C.1`/`3C.7` = Investment Company Act fund exclusions). 506(c) allows general solicitation — these filers are actively marketing the raise
`related_persons`	array[object]	Executive officers, directors, and promoters listed on the filing. Useful for identifying decision-makers and lead investors
`related_persons[].name`	string	Person or entity name
`related_persons[].roles`	array[string]	Roles held: `Executive Officer`, `Director`, `Promoter`. "Promoter" typically indicates the lead investor or placement agent
`related_persons[].email`	string \| null	Work email when we could resolve one (~16% of persons)
`related_persons[].linkedin_url`	string \| null	LinkedIn profile URL when we could resolve one (~16% of persons)
`sic_code`	string \| null	Standard Industrial Classification code from the filer's EDGAR profile. Rarely populated — most Form D filers have no SIC code
`sic_description`	string \| null	Reserved — currently always `null`
`tickers`	array[string]	Reserved — currently always empty (`[]`); Form D filers are almost always private
`sentiment`	string \| null	Reserved — currently always `null`
`pain_points_extracted`	array[string] \| null	Reserved — currently always `null`
`use_cases_extracted`	array[string] \| null	Reserved — currently always `null`
`outreach_hooks`	array[string] \| null	Reserved — currently always `null`
`tags`	array[string] \| null	Reserved — currently always `null`

Timing & Delivery

One signal per Form D filing. A company or fund may file multiple Form Ds over time (initial + amendments as the round progresses). Each filing gets its own signal. Use accession_number (or signal_id) to track individual filings.
Each delivery arrives in a timestamped folder containing output.jsonl and output.parquet with identical rows. Treat all signals in a new folder as recent — no need to diff against prior deliveries.
Use file_date for the actual SEC submission date — typically within 15 days of first sale of securities.

Coverage

Refresh: Once per business day. Each run (~06:00 UTC, Tuesday–Saturday) delivers the prior business day's filings. No deliveries for SEC holidays.
History: Continuous from January 2, 2026.
Coverage: All Form D and Form D/A filings on EDGAR — operating companies and pooled investment funds (~1,000–1,300 filings/week; ~35% operating companies)
Best for: Early-stage funding detection, pre-announcement outreach, identifying companies about to scale rapidly

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Form D (Funding)

See real delivered data → Sample Files

Looking for startups that just raised? Filter to `newFilingCompany` (and optionally `amendmentCompany`). The `*Fund` subtypes cover fund vehicles; for those, the resolved company is usually the fund manager (`resolved_entity_type: fund_manager`).

Example Signal

Field Reference

Signal-Specific Fields

Timing & Delivery

Coverage

See real delivered data → Sample Files

Looking for startups that just raised? Filter to newFilingCompany (and optionally amendmentCompany). The *Fund subtypes cover fund vehicles; for those, the resolved company is usually the fund manager (resolved_entity_type: fund_manager).

Example Signal

Field Reference

Signal-Specific Fields

Timing & Delivery

Coverage

Looking for startups that just raised? Filter to `newFilingCompany` (and optionally `amendmentCompany`). The `*Fund` subtypes cover fund vehicles; for those, the resolved company is usually the fund manager (`resolved_entity_type: fund_manager`).