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Writing · 29 October 2026

SEC Form D as a prospecting source, measured

A week of SEC Form D filings counted: 577 filings, 245 operating companies, 1,683 named officers, and a 13-day median gap between the money and the paperwork.

Funding announcements reach you after everyone else has read them. The filing behind the announcement is public on the day it lands, and it carries the amount, the state, the date of the first sale, and the executive officers and directors by name. We pulled a week of those filings on 29 October 2026 and counted what is inside: 577 filings, 245 of them operating companies, 1,683 named people, and a median gap of 13 days between the money moving and the paperwork appearing.

This piece is that count, the fields you supply yourself afterwards, and what the signal has returned in replies on our own send log. The arithmetic repeats on any week you choose, with public data and a plain HTTP request.

01

A week of filings: 577 documents, 245 operating companies

Form D is the notice a company files with the SEC after selling securities in a private round, due within 15 days of the first sale. The daily index lists every one of them, and each filing itself is an XML file at a stable address.

Our pull covered seven calendar days, which came to four trading days (23, 26, 27 and 28 October), because filings land on business days. Across those four days the index held 577 Form D notices, about 144 a day.

By the industry each filer selects, 332 of the 577 are pooled investment vehicles: funds raising from their own investors, often named as a series of a master entity. The remaining 245 are operating companies, and that is the working population:

| Industry on the filing | Operating filings |

|---|---|

| Other | 55 |

| Other Technology | 54 |

| Commercial | 27 |

| Other Real Estate | 17 |

| Other Health Care | 16 |

| Residential | 12 |

| Business Services | 11 |

| Biotechnology | 9 |

Those 245 companies are selected by a document that publishes on its own schedule, so the same 245 appear in your week whether or not anyone sells them as a list, which is the property discussed in buying signals that still work when everyone has the list.

Money is on the filing too, as the amount actually sold. Median across the 245 operating filings: $775,000, with 136 above $500,000, 116 above $1,000,000 and 52 above $5,000,000. Another 45 reported zero sold so far, which happens when the notice goes in at the start of a raise. The investor count is filled on all 245, median 3, and 48 filings show exactly one investor, the shape of a friends-and-family round.

02

The filing names the officers, and that changes the work

Every one of the 577 filings named at least one person, 1,683 names in total across three role labels: Executive Officer 1,038, Director 770, Promoter 258. The 245 operating filings carry 787 names, a median of 2 per filing and 18 at the top end, 752 of them reading as a human rather than an entity.

When we ran filings into a campaign for a workplace-services seller, the buyers were operations and workplace managers, found separately from the filing. The officers named in the document did a different job: they proved we had the right company. Legal names collide, brands sit under holding entities, and a filer sharing a name with a well-known product is a trap you fall into once. Two founders and one fund-side director named in the document matched the company we believed we had found, which turned it into a fact with a source. That is the standard we hold every opener to, and the reasoning is in personalization that survives contact.

The standard has a price tag you can see in the reject log: over the last 60 days we turned away 878 sourced people, 60 of them because a second live source left the employer unconfirmed. Names in a filing are the cheapest way we have found to close that gap.

03

How fresh "just raised" actually is

The date you want is the date of the first sale, and 386 of the 577 filings carry it. Measured against the filing date, the median gap is 13 days, the quartiles are 5 and 37 days, and the tail is long: 76 filings arrived more than 60 days after the money, 40 more than 180 days, the oldest at 1,820 days. Of the 386 dated filings, 244 sit inside the statutory 15-day window.

Read that as a rule for your copy. A filing seen on publication day is a two-week-old event at the median, comfortably inside the shelf life of a congratulations opener. The upper quartile at 37 days is where "I saw you just raised" starts to sound careless, and anything past 60 days belongs in the background of a message rather than its first line.

We have this number only since this week. Our collector read the first-sale date one level too high in the document, the field came back empty on all 250 filings of the first pull, and the signal quietly dated itself by the paperwork. The fix was one line on 29 October 2026. The lesson generalises: a pipeline reading a public document should report how often each field it depends on came back filled, every run, because an empty field looks exactly like a quiet one. The same discipline applied to weekly numbers is in how to read an outbound weekly report.

04

Three things you supply yourself

The filing is a legal document, so it speaks in legal terms, and three steps stay yours.

The domain. The document carries the entity name, the city and the state. Matching that to a website and a LinkedIn company page is your step, and the officer names are what make the match defensible.

The brand. Among the 245 operating filings, 92 end in LLC, 101 in some form of Inc, and 43 carry a structural word (series, SPV, holdings, partners, capital). The name on the paperwork and the name on the homepage agree less often than you would like.

Company size. The filing has a revenue band, and 188 of the 245 operating filers chose "decline to disclose", with 31 more reporting no revenues yet. The year of incorporation works the same way: 189 of 245 give a year, 165 of those fall in 2024 to 2026, and the earliest is 2021, because an older company checks a box for "over five years" (eleven of twelve empty-year filings we opened by hand had checked it). Size and age filters therefore live in your own enrichment layer, as they do for every other source, and how those layers divide up by question is in which data source answers what.

05

What the signal returned, and the funnel end to end

Counting only invitations older than 14 days, so acceptances and replies have had time to land, a funding reason produced 41 invitations, 12 acceptances (29.3%), and 1 first reply (2.4%). For scale, the same cut across our whole book gives 4,044 invitations, 1,044 acceptances (25.8%) and 196 first replies (4.8%). Two neighbouring reasons on the same cut: a plain portrait filter with no event ran 1,927 invitations at 22.8% accept and 3.0% reply, and a hiring event ran 980 invitations at 23.7% and 4.3%.

Our rule for calling a result is 30 sends and 3 replies in a slice. The funding slice has the sends and one reply, so the label stays unmeasured, and a 3.5 point acceptance edge on 41 invitations is a hint. The claim that holds is narrower: the filing gives you a company name, its officers and its money on the day it becomes public, and whether that fact earns a reply is a test you run on your own market. The method for running it honestly on 41 sends is in A/B testing outbound copy when the sample is small, and typical accept and reply ranges sit on our cold outreach benchmarks page.

The whole funnel from four trading days of one public source:

  • 577 Form D filings in the index
  • 245 operating companies once the pooled vehicles step aside
  • 78 of those in technology or business services
  • 23 of the 78 also cleared $500,000 sold, with a first sale inside 30 days and at least one named person

Roughly six qualified companies per trading day, each with an amount, a date, a city, and two to three officers by name. For a seller who writes 10 to 15 people a day, that is a usable share of a day's list for the cost of an HTTP request.

What to do on Monday: pull your own week from the daily index, split funds from operating companies first, keep the filings whose first-sale date sits inside your own freshness rule, and treat the officer names as proof of identity rather than as your buyer list. Then log how often each field came back filled, so the day one goes quiet you hear it from your own report.

06

Questions buyers ask

Where can I get a list of companies that just raised money?

The SEC daily index carries every Form D filed that business day, open to anyone. Over four trading days in late October 2026 it held 577 filings, 245 of them operating companies, and 136 of those had sold at least $500,000.

Does a Form D filing include the names of the founders?

Yes. All 577 filings in our week named at least one person, 1,683 names in total, labelled Executive Officer (1,038), Director (770) or Promoter (258). The operating companies carried 787 names, a median of 2 per filing, 752 of them reading as a person.

How current is a funding filing as a signal?

The notice is due within 15 days of the first sale, and 244 of the 386 dated filings in our week met that window. The median gap between first sale and filing was 13 days and the upper quartile 37 days, with 76 filings arriving more than 60 days after the money, so the date of first sale is the field to filter on.

Do recently funded companies reply more to cold outreach?

On our log it is still unmeasured. Invitations older than 14 days with a funding reason numbered 41, with 12 acceptances (29.3%) and 1 first reply (2.4%), against 4,044 invitations at 25.8% and 4.8% across our whole book. Our threshold for calling a slice is 30 sends and 3 replies, so the acceptance edge wants another month of sends.

We run this sourcing, the matching step after it, and the weekly measurement for founders selling to businesses, and the engine is described on how it works. Pricing starts at $199 a month for running the stack under your own model and $2,000 a month with us operating it.

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