North America Q1 2026 Funding Hits Record $252.6 Billion
U.S. and Canadian companies secured $252.6 billion in seed-through growth-stage funding rounds in the first quarter of 2026, according to Crunchbase data, marking more than triple the amount raised in the prior quarter and the largest quarterly total on record. This surge exceeded the previous high of $95.7 billion from Q3 2021, with artificial intelligence playing a central role as more than 87% of the investment went to AI-related categories.
Overall Funding Surge
The quarter’s total funding of $252.6 billion represented a more than threefold increase from the previous quarter, driven by massive deals including OpenAI’s $110 billion financing in February. Four additional large financings, such as Anthropic’s $30 billion Series G in February, xAI’s $20 billion Series E in January, and Waymo’s $16 billion Series D in February, contributed significantly, with these rounds alone totaling almost as much as the prior quarter’s entire funding. According to Crunchbase News, this activity highlighted a concentration of investment in high-profile companies, with later-stage and technology-growth funding comprising $222.4 billion, or 88% of all North American startup investment.
AI’s Dominant Role
Artificial intelligence captured $221 billion of the quarter’s funding, accounting for about six times the AI investment from the prior quarter and representing the majority of overall activity. This included major rounds for companies like OpenAI, which also raised an additional $12 billion in March, and others such as Anthropic and xAI. According to Crunchbase News, AI-related funding has been on an upward trajectory, with the past 13 quarters showing increasing totals, underscoring the sector’s prominence in Q1 2026 as it absorbed 87% of all investments.
Funding Breakdown by Stages
Later-stage and growth-stage funding reached $222.4 billion, more than five times the prior quarter’s amount and over triple year-ago levels, though round counts dipped slightly. Early-stage investment totaled $25.1 billion for Series A and B rounds, up 17% from the previous quarter and 56% from the year prior, marking the highest quarterly total in over three years with notable deals like Apptronik’s $520 million Series A in February. Seed-stage funding remained steady at an estimated $5.1 billion, roughly flat with the prior quarter but up from year-ago levels, even as round counts declined. According to Crunchbase News, these patterns indicate investors are concentrating bets on standout performers, with early-stage including four rounds of $500 million or more.
Exits in the Quarter
Exit activity was modest compared to fundraising, featuring several IPOs such as EquipmentShare’s in January, York Space Systems, and BitGo, with a total of 12 venture-backed companies going public on U.S. exchanges. Acquisitions included several large deals, though specifics were not fully detailed in the data.
