MODE VC / Research
Daily read · SEC Form D filed 2026-10-20 · built 2026-10-21 UTC

1 new AI raise filed with the SEC on October 20, 2026, scored for distribution moat

Every business day, companies tell the SEC they have started selling shares. We read each new notice, check public evidence for whether the company is an AI company, and score the ones that are with the same Distribution Moat rubric Mode VC uses on its own deals. Where the evidence cannot settle it, we say unclear instead of guessing.

Full data (JSON) Use it from an AI agent (MCP) How we score
1AI raises foundboth model runs agreed
21left unclearevidence too thin or runs disagreed
61notices readof 206 filed; 145 skipped by rule
3.5highest moat scoreAllstacks, Inc.

Today's AI raises, highest moat first

#1

Allstacks, Inc.

$4.0M sold of $4.0M · Raleigh, North Carolina · Other Technology

3.5of 5Emerging moat
  • Native integrationFound
  • Bundle or defaultEvidence says no
  • Viral loopNot in public evidence
  • Network lock-inFound
  • Proprietary dataRuns split, not counted
  • Counted as an AI company because both model runs agreed and its own site says so (https://www.allstacks.com/): "Agentic Platform for Product Management and Software Development Allstacks The agentic platform for product and software development Purpose-built AI agents for...".
  • Read from the evidence: business software; seat or subscription pricing.
  • Moat score 3.5 of 5: starts at 2.0, +1.5 because the evidence says it runs inside tools customers already use and gets more valuable as more users join.
  • Possible partner name match, not verified: Alok Nandan (First Rays Venture Partners).

Own site read: Pricing, Integrations / partners, Customers, Docs, Product · not linked from the site: github

  • Alok Nandan, First Rays Venture PartnersDirector · name match only, not verified

Evidence: allstacks.com, allstacks.ai · SEC Form D · both runs agreed it is AI: yes

Unclear: we could not tell

These notices might be AI companies, but the filing and public web gave too little to say, or our two model runs disagreed. They are not counted above.

IssuerIndustry groupSoldWhy unclearFiling
Alchemy Cloud, Inc.Other Technology$1.0MLeft as unclear: both runs said AI, but no sentence on the company's own site shows it. Third-party and gated profiles do not count.Form D
VeteranCrowd Rewards, Inc.Other Technology$80KLeft as unclear: both runs said the public evidence is too thin to tell; no public site matching the name was found.Form D
Ascertain Systems, Inc.Other Technology$20.0MLeft as unclear: the two runs disagreed.Form D
Nocturnal Inc.Other Health Care$1.9MIt was unclear from the filing and search alone; after reading its own pages, both runs agreed.Form D
ALPHA SCORPION LLCInvesting$0Left as unclear: both runs said the public evidence is too thin to tell.Form D
Modal Labs, Inc.Other Technology$601.9MLeft as unclear: both runs said the public evidence is too thin to tell; no public site matching the name was found.Form D
NEXROC SVCV, Inc.Other Banking and Financial Services$50.0MLeft as unclear: the two runs disagreed; no public site matching the name was found.Form D
ReservoirCo, Inc.Other Technology$750KIt was unclear from the filing and search alone; after reading its own pages, both runs agreed.Form D
CORE X SRS Regional LLCOther$10.6MLeft as unclear: the two runs disagreed.Form D
Bracely Inc.Insurance$700KLeft as unclear: both runs said the public evidence is too thin to tell.Form D
BIDSSIGNAL LTD.Investing$0Left as unclear: both runs said the public evidence is too thin to tell.Form D
Atlis Health, LLCOther Technology$250KLeft as unclear: both runs said the public evidence is too thin to tell; no public site matching the name was found.Form D
LXRE Inc.Other Technology$1.0MLeft as unclear: both runs said the public evidence is too thin to tell.Form D
PST OZ AG Fund E LLCOther$35.9MLeft as unclear: both runs said the public evidence is too thin to tell.Form D
Moonraker Mining I, LLCOther Technology$70KLeft as unclear: the two runs disagreed.Form D
From Kalliope With Love Inc.Other Technology$60KLeft as unclear: both runs said the public evidence is too thin to tell.Form D
Worth Alliance LLCOther Technology$0It was unclear from the filing and search alone; after reading its own pages, both runs agreed.Form D
Sigil Health Inc.Other Technology$35KLeft as unclear: both runs said the public evidence is too thin to tell.Form D
Granted Inc.Other Technology$45KLeft as unclear: both runs said the public evidence is too thin to tell.Form D
Hideout House Acadia, LLCOther$125KLeft as unclear: the two runs disagreed.Form D
Triad Flex Fund LLCOther$0Left as unclear: both runs said the public evidence is too thin to tell.Form D
22 investment vehicles we could not tie to one company
  • GEC Bestway SPV LLC $152.8M sold · no company site found for "GEC Bestway"
  • Sprott Private Resource Lending (Cal-Co-invest), LP $0 sold · no company site found for "Sprott Private Resource Lending (Cal- )"
  • HF Pre-Seed RUV 2026, a series of Roll Up Vehicles, LP $135K sold · no company site found for "HF Pre-Seed RUV"
  • LH Strategic Seed, a series of Roll Up Vehicles, LP $1.1M sold · no company site found for "LH Strategic Seed"
  • Seraphim, a series of Roll Up Vehicles, LP $500K sold · no company site found for "Seraphim"
  • 1517 Fund - SPV V, L.P. $10.0M sold · name does not point at one company · partner on filing: Danielle Strachman, 1517 Fund; Michael Gibson, 1517 Fund
  • HA-0729 Fund I, a series of Orange Collective Co-Invest, LP $500K sold · no company site found for "HA-0729"
  • GE-0908 Fund III, a series of MV Funds, LP $819K sold · no company site found for "GE-0908"
  • Okeanos Venture Partners II LLC - Series 195 $312K sold · name does not point at one company
  • SU-0819 Fund I, a series of Platform Funds 2026, LP $92K sold · no company site found for "SU-0819"
  • Nakoma Capital SPV II, LP $0 sold · no company site found for "Nakoma Capital"
  • Duke Capital Partners 2609A, A Series of V360 Holdings LLC $321K sold · no company site found for "Duke Capital Partners 2609A"
  • Harvest Growth Capital V QP, LLC - Series G $12.6M sold · name does not point at one company
  • VE-1001 Fund I, a series of Noveus Capital Funds, LP $130K sold · no company site found for "VE-1001"
  • Pathway Co-Investment Partners Fund IX-2, LP $30.0M sold · no company site found for "Pathway Partners -2"
  • Sound Ventures AI Inference Fund, L.P. $0 sold · no company site found for "Sound Ventures AI Inference" · partner on filing: Effie Epstein, Sound Ventures; Guy Oseary, Sound Ventures
  • Duke Capital Partners 2609B, A Series of V360 Holdings LLC $1.1M sold · no company site found for "Duke Capital Partners 2609B"
  • Duke Capital Partners 2609C, A Series of V360 Holdings LLC $530K sold · no company site found for "Duke Capital Partners 2609C"
  • Bregal Sagemount IV EDS Co-Invest LP $80.8M sold · no company site found for "Bregal Sagemount EDS"
  • Astro Investment X a Series of Astro Funds LLC $4.5M sold · no company site found for "Astro Investment"
  • Dream SPV Micro1 2 LLC $7.5M sold · no company site found for "Dream Micro1 2"
  • Almanack Opportunity Fund - Series 8 $9.5M sold · name does not point at one company
17 notices read and judged not AI
  • StrikePoint Gold Inc. Other
  • FORMFACTOR INC Other Technology
  • NOV Co-Invest Holdings, L.P. Pooled Investment Fund
  • NOV Co-Invest Holdings (Parallel), L.P. Pooled Investment Fund
  • Immersed Inc. Other Technology
  • Dorado Parent, L.P. Other
  • Crosslink Therapeutics Inc. Pharmaceuticals
  • ALPHABETASOUP LLC Other Technology
  • Sun Peak Metals Corp. Other
  • Krait Critical Minerals Corp. Other
  • CORE X Partners LLC Other
  • Planck Holdings LLC - Series GrowX Pixxel Pooled Investment Fund
  • Eclipse SPV XXXVII, L.P. Pooled Investment Fund
  • Virtus Maritime, Inc. Other Technology
  • Localposh.com, Inc. Other Technology
  • SunMoon Maui Citruscello LLC Other
  • LIMA Global Investment Management, Inc. Investing

How we score

Which notices. New Form D notices filed with the SEC that day. Amendments are skipped. Real estate, oil and gas, restaurants, hedge funds and real estate funds are skipped before any model sees them. Investment vehicles count only when their name points at one company that has its own website.

Is it AI? The evidence is the filing itself plus up to three public web pages whose web address or title carries the company's name; pages about other companies with similar names are dropped. A small model (Jev, on our free lane) answers the question twice, with the answer options in opposite order. It counts only when both runs agree. Then one more check that no model makes: a sentence on the company's own site has to show the AI itself (the word AI, machine learning, LLM, agentic, computer vision, autonomous, robotics and similar), and the company's own name does not count. Gated or preview profiles such as PitchBook, Crunchbase, LinkedIn or ZoomInfo are never used. Each card quotes that sentence. Anything else is unclear.

The company's own pages. For every company judged AI or unclear we read its site further: the pricing, integrations or partners, customers or case studies, docs or developer, and product pages it links from its homepage or lists in its sitemap (we never guess addresses), plus a GitHub organization it links to. Each card lists the pages read and the ones the site does not link. Unclear companies are asked again with those pages.

The moat score. The published Mode VC Distribution Moat rubric, the same code as the get_distribution_moat_score tool: start at 2. Add 1.5 if the evidence says the product runs inside tools customers already use, ships bundled or as a default, spreads through sharing, or gets more valuable as more users join. Add 1 if use generates proprietary data. Add 0.5 for three or more of those levers. Capped at 5. Each lever is asked twice the same way, and counts only when both runs say the evidence states it. Every lever then shows one of four states: found; evidence says no; runs split (one run found it, so it is not counted); or not in public evidence, which means unknown, not absent. Pricing model is recorded but the published rubric does not score it.

Read 2.0 carefully. A 2.0 means no lever was found in public evidence yet. Young companies rarely publish how they will win distribution, so 2.0 is a starting point for a conversation, not a judgment.

People and fund size. We join the people named in each filing to the partners in the Mode VC Investor Atlas. A confirmed match needs a second signal tied to the firm (its name in the filing, or the same address as its Form ADV). A possible match shares only the name and is marked not verified. Fund size is the private fund assets the firm reports on SEC Form ADV, shown only when that adviser match is confirmed.

Limits. A Form D is a notice the company files itself. It does not confirm that a round closed, who led it, or the valuation. Amounts are as reported.

For AI agents

Call get_daily_ai_raises on the Mode VC MCP server at https://modevc.com/api/mcp with an optional date (YYYY-MM-DD). It returns the same raises, scores, reasoning, evidence links and partners, with as_of and source URLs on every record. Recent days: 2026-10-20 (1 AI) · 2026-10-19 (6 AI).