A company that raises money privately in the U.S. under Regulation D files a Form D with the SEC. Palanor loads every Form D and amendment from 2009 on and turns them into one row per offering.
What Palanor adds
- Offerings, not filings. Amendments are chained by SEC file number. The money an amendment raised is the change in the amount sold since the filing before it.
- Venture-like subset. Private U.S. operating companies selling equity under Rule 506. Funds, real estate, oil and gas, banks, deal vehicles, mergers and public companies raising privately are left out, and each excluded offering says why.
- Large filings checked by hand. A filing that adds $1 billion or more counts only after a person has reviewed it.
- AI classification. Each issuer that raised venture-like money from 2015 on is classed as AI, not AI or uncertain. Clear names are classed by rules. The rest were read by a search model, and its evidence link has to be one of the pages it actually cited. Every class carries its method, a confidence and the evidence link. The class is Palanor's judgement, not the SEC's.
In the API and MCP
- /v1/form-d/offerings and palanor_get_form_d_offerings list offerings. Filter by date, state, industry group, amount sold, AI class, CIK or venture-like only. Pro and Enterprise keys.
- /v1/form-d/issuers/{cik} and palanor_get_form_d_issuer return one issuer's offerings, every filing and its AI class with the evidence. Pro and Enterprise keys.
- /v1/form-d/ai-share and palanor_get_ai_venture_share return the AI share of venture-like money by quarter or year, for the U.S. or one state. Every key.
Every row links to its filing on sec.gov, and every response names its source.
Signals
The same data feeds the capital.form_d signals, all quarterly. Add them to a watchlist or scenario like any other signal.
- Money raised. Venture-like money for the U.S., for California, New York, Texas, Massachusetts and Florida, and for twelve Form D industry groups. Each state's share of U.S. money, and the five states' combined share, over the trailing four quarters.
- Raise size. The median and 90th-percentile raise. A raise is the money one offering adds in a quarter.
- Raises of $100 million or more. Their count and money, and the AI share of that money over the trailing four quarters.
- First-time issuers. Companies filing their first Form D for a venture-like raise, from 2011. A proxy for new startups raising outside money.
- New funds. New venture capital, private equity and hedge fund notices, with single-deal vehicles (SPVs, series) counted apart, and the money new venture funds set out to raise.
- Fill rate. The median share of the amount offered that is already sold, and the share of offerings still reporting money left to sell.
- Rule 506(c). The share of money and of raises using the exemption that allows public advertising, from 2013 Q4.
- AI share. The AI share of venture-like money for the U.S. and four states, and of companies raising $30 million or more.
Who can read what
- Every key: the signals above and /v1/form-d/ai-share.
- Pro: offering and issuer records.
- Enterprise: the whole dataset as quarterly CSV or Parquet files with the AI classification, by agreement.
Limits
Form D is a notice, not an audited report. Issuers file what they choose to report, some never file amendments, and the amount sold is what the issuer stated. Read the totals as a measure of reported private fundraising. Form D is not a deal database: it has no valuations, round names or investor lists, and some of the largest private companies raise without a notice of their own. The industry group, state and fund type are the filer's own answers.
Source
U.S. Securities and Exchange Commission, Form D data sets. SEC filings are public and may be copied and distributed.