# Median Series D round in the United States (2026) > The median Series D round in the United States is $190M, from 62 rounds announced in the last 12 months. Half raised between $129M and $307M. Source: https://millionrounds.com/benchmarks/series-d/united-states (Millionrounds; every figure on the page links to its filing or article) Funding benchmark · last 12 months # The typical Series D round in the *United States* From 62 Series D rounds announced in the United States over the last twelve months, each read from a named source. Half of them raised between $129M and $307M. See the rounds[All benchmarks](https://millionrounds.com/benchmarks) Series D United States Median round **$190M** $65M 1 in 10 below $129M – $307M middle half $690M 1 in 10 above 62 rounds counted · recounted nightly Rounds counted **62** Series D rounds in the United States, last 12 months Against worldwide **+21%** vs the $158M worldwide median Since last round **13 mo** median gap, from 32 companies we saw raise before Lead named **89%** of these rounds name the investor who led The trend ## Median Series D round, quarter by quarter From $155M in 2024 Q4 to $160M in 2026 Q3. Quarters with fewer than five rounds are left blank. $155M '24 Q4 9 rds $100M '25 Q1 9 rds $120M '25 Q2 11 rds $92M '25 Q3 8 rds $300M '25 Q4 9 rds $232M '26 Q1 13 rds $160M '26 Q2 11 rds $160M '26 Q3 16 rds Who leads ## The most active leads The firms that led the most Series D rounds in the United States this year. - [1 **Sequoia Capital** 5 led](https://millionrounds.com/fund/sequoia-capital) - [2 **Kleiner Perkins** 4 led](https://millionrounds.com/fund/kleiner-perkins) - [3 **TCV** 3 led](https://millionrounds.com/fund/tcv) - [4 **Eclipse** 3 led](https://millionrounds.com/fund/eclipse) - [5 **Accel** 2 led](https://millionrounds.com/fund/accel) - [6 **Index Ventures** 2 led](https://millionrounds.com/fund/index-ventures) Recent examples ## Series D rounds in the United States, latest first - [**Group14 Technologies** 29 Oct 2026 Not named $169M -11%](https://millionrounds.com/company/group14-technologies) - [**Firehawk Aerospace** 28 Oct 2026 Not named $150M -21%](https://millionrounds.com/company/firehawk-aerospace) - [**Xona** 22 Oct 2026 Future Ventures $250M +32%](https://millionrounds.com/company/xona) - [**Whop** 21 Oct 2026 Sequoia Capital $200M +5%](https://millionrounds.com/company/whop) - [**Sirona Medical** 16 Oct 2026 Avidity Partners $40M -79%](https://millionrounds.com/company/sirona-medical) - [**Varda Space Industries** 9 Oct 2026 Not named $251M +32%](https://millionrounds.com/company/varda-space-industries) - [**Voltus** 8 Oct 2026 Generation Investment Management $225M +18%](https://millionrounds.com/company/voltus) - [**Valon** 5 Oct 2026 Not named $150M -21%](https://millionrounds.com/company/valon) **How to read these figures** They come from announced rounds. Large rounds are almost always announced and many small ones never are, so the true typical round is probably a little smaller than shown, most of all at pre-seed and seed. Every round behind them is in the record with its source. [How we read rounds](https://millionrounds.com/methodology). Other stages in the United States [**Pre-seed** $3.0M](https://millionrounds.com/benchmarks/pre-seed/united-states)[**Seed** $9.0M](https://millionrounds.com/benchmarks/seed/united-states)[**Series A** $25M](https://millionrounds.com/benchmarks/series-a/united-states)[**Series B** $60M](https://millionrounds.com/benchmarks/series-b/united-states)[**Series C** $100M](https://millionrounds.com/benchmarks/series-c/united-states)[**Growth** $200M](https://millionrounds.com/benchmarks/growth/united-states) Series D elsewhere [**AI** $150M](https://millionrounds.com/benchmarks/series-d/ai) ## Raising a Series D round? See who leads rounds like yours, and check your raise before you pitch. [Take the Fundability Test](https://millionrounds.com/fundability)[Or find investors](https://millionrounds.com/investor-database) ## Q&A How big is a typical Series D round in the United States? The median is $190M, from 62 Series D rounds announced in the United States in the last twelve months. Half of them raised between $129M and $307M; one in ten raised more than $690M. Which rounds are counted? Rounds announced in the last twelve months with a stated amount and stage, each read from a named article or filing. A page is only published where at least 30 rounds stand behind it. Are these figures biased? Towards larger rounds, yes. Big rounds are announced; many small ones never are. So the true typical round is probably a little smaller than the figure here, especially at pre-seed and seed. How often does it change? The figures are recounted from the record every night, as new rounds are read.