The Week’s 10 Biggest Funding Rounds: Health And AI Lead For Large Financings
Want to keep track of the largest startup funding deals in 2025 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The Crunchbase Megadeals Board.
This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding rounds here.
This week was a fairly busy one for large financings, with eight of the top 10 exceeding the $100 million mark. Leading the way were two software providers: Judi Health, focused on health benefits software, and Filevine, used for legal practice management.
1. (tied) Judi Health, $400M, health benefits: Judi Health, formerly known as Capital RX, a New York-based provider of software for employers and health plans to manage benefits, announced $400 million in new investment. The financing included a $252 million Series F round along with what the company described as additional investments into its securities, led by Wellington Management and General Catalyst.
1. (tied) Filevine, $400M, legal tech: Salt Lake City-based Filevine, a provider of legal practice management software, announced that it closed on two previously undisclosed rounds totaling $400 million. Insight Partners led the first round and joined Accel and Halo Experience Co. to co-lead the second.
3. Modular, $250M, AI infrastructure: Modular, developer of an enterprise AI inference stack, raised $250 million in a Series C financing led by US Innovative Technology Fund at a $1.6 billion valuation. Founded in 2022, the Palo Alto, California-based company has raised $380 million in known funding to date.
4. AppZen, $180M, fintech: San Jose, California-based AppZen, an agentic AI platform for finance teams, picked up $180 million in Series D funding led by Riverwood Capital. The company said it wants its software to enable CFOs and controllers to replace over 50% of manual work.
5. Distyl AI, $175M, enterprise software: Distyl AI, a developer of AI tools for enterprise customers, scooped up a $175 million funding round backed by Lightspeed Venture Partners, Khosla Ventures, DST Global, Coatue and Dell Technologies Capital. The financing sets a $1.8 billion valuation for the San Francisco-based company.
6. Empower Semiconductor, $140M, AI processors: Empower Semiconductor, a developer of power-efficient AI processors, closed on more than $140 million in Series D financing led by Fidelity. The San Jose, California-based company says its technology can enable energy savings and higher throughput of AI platforms across data centers.
7. Quo, $105M, business communications: San Francisco-based Quo (formerly OpenPhone), raised $105 million in fresh financing led by General Catalyst. The company offers an AI-powered phone system marketed to small businesses.
8. Zerohash, $104M, cryptocurrency: Crypto and stablecoin infrastructure startup Zerohash raised $104 million in a funding round led by Interactive Brokers Group. Founded in 2015, the Chicago-based company has raised $277 million in known funding to date, per Crunchbase data.
9. Inspiren, $100M, healthcare AI: New York-based Inspiren, developer of an AI-powered platform and connected-device system for senior living communities, secured $100 million in a Series B round led by Insight Partners.
10. Thyme Care, $97M, oncology care: Thyme Care, a Nashville, Tennessee-based startup that describes itself as a provider of “value-based care” for oncology patients, picked up $97 million in Series D financing from a long list of venture and strategic backers.
Methodology
We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Sept. 20-26. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.
Illustration: Dom Guzman
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The Week’s 10 Biggest Funding Rounds: Health And AI Lead For Large Financings
Want to keep track of the largest startup funding deals in 2025 with our curated list of $100 million-plus venture deals to U.S.-based companies? Check out The Crunchbase Megadeals Board.
This is a weekly feature that runs down the week’s top 10 announced funding rounds in the U.S. Check out last week’s biggest funding rounds here.
This week was a fairly busy one for large financings, with eight of the top 10 exceeding the $100 million mark. Leading the way were two software providers: Judi Health, focused on health benefits software, and Filevine, used for legal practice management.
1. (tied) Judi Health, $400M, health benefits: Judi Health, formerly known as Capital RX, a New York-based provider of software for employers and health plans to manage benefits, announced $400 million in new investment. The financing included a $252 million Series F round along with what the company described as additional investments into its securities, led by Wellington Management and General Catalyst.
1. (tied) Filevine, $400M, legal tech: Salt Lake City-based Filevine, a provider of legal practice management software, announced that it closed on two previously undisclosed rounds totaling $400 million. Insight Partners led the first round and joined Accel and Halo Experience Co. to co-lead the second.
3. Modular, $250M, AI infrastructure: Modular, developer of an enterprise AI inference stack, raised $250 million in a Series C financing led by US Innovative Technology Fund at a $1.6 billion valuation. Founded in 2022, the Palo Alto, California-based company has raised $380 million in known funding to date.
4. AppZen, $180M, fintech: San Jose, California-based AppZen, an agentic AI platform for finance teams, picked up $180 million in Series D funding led by Riverwood Capital. The company said it wants its software to enable CFOs and controllers to replace over 50% of manual work.
5. Distyl AI, $175M, enterprise software: Distyl AI, a developer of AI tools for enterprise customers, scooped up a $175 million funding round backed by Lightspeed Venture Partners, Khosla Ventures, DST Global, Coatue and Dell Technologies Capital. The financing sets a $1.8 billion valuation for the San Francisco-based company.
6. Empower Semiconductor, $140M, AI processors: Empower Semiconductor, a developer of power-efficient AI processors, closed on more than $140 million in Series D financing led by Fidelity. The San Jose, California-based company says its technology can enable energy savings and higher throughput of AI platforms across data centers.
7. Quo, $105M, business communications: San Francisco-based Quo (formerly OpenPhone), raised $105 million in fresh financing led by General Catalyst. The company offers an AI-powered phone system marketed to small businesses.
8. Zerohash, $104M, cryptocurrency: Crypto and stablecoin infrastructure startup Zerohash raised $104 million in a funding round led by Interactive Brokers Group. Founded in 2015, the Chicago-based company has raised $277 million in known funding to date, per Crunchbase data.
9. Inspiren, $100M, healthcare AI: New York-based Inspiren, developer of an AI-powered platform and connected-device system for senior living communities, secured $100 million in a Series B round led by Insight Partners.
10. Thyme Care, $97M, oncology care: Thyme Care, a Nashville, Tennessee-based startup that describes itself as a provider of “value-based care” for oncology patients, picked up $97 million in Series D financing from a long list of venture and strategic backers.
Methodology
We tracked the largest announced rounds in the Crunchbase database that were raised by U.S.-based companies for the period of Sept. 20-26. Although most announced rounds are represented in the database, there could be a small time lag as some rounds are reported late in the week.
Illustration: Dom Guzman
Read More
The Arc Of Venture Capital Bends Toward Democracy