Hardware testing startup Nominal hits $1B valuation, raises $155M in 10 months

Los Angeles-based manufacturing software startup Nominal has secured an $80 million Series B extension round at a $1 billion valuation, bringing its total Series B funding to $155 million. The round was led by Founders Fund, with participation from Sequoia, General Catalyst, Lux Capital, Red Glass, and Lightspeed.

Founded just three and a half years ago, Nominal has quickly become a key player in the defense technology sector. The company provides software that enables hardware engineers to test their designs more efficiently, a critical need in industries where precision and reliability are paramount. In the past 10 months alone, Nominal has landed four of the five largest defense contractors as customers, underscoring the rapid adoption of its platform.

The company’s CEO and co-founder, Cameron McCord, brings a unique blend of military and tech experience to the table. A former U.S. Navy submarine officer, McCord also previously worked at Anduril, a defense tech company that has become one of Nominal’s marquee customers. This connection likely played a role in the deal, as Anduril co-founder and executive chairman Trae Stephens, who is also a partner at Founders Fund, led the investment. McCord described the deal as preemptive, highlighting the confidence investors have in Nominal’s trajectory.

Nominal’s roots are deeply tied to the defense industry, but the company is now setting its sights on broader industrial applications. With its software already proving invaluable in sectors like automotive and nuclear energy, Nominal is poised to expand into robotics and other industries. For example, the company counts Pratt Miller Motorsports, the team behind Corvette Racing, and nuclear energy firm Antares among its customers.

The timing of this funding round is particularly noteworthy. As global tensions rise and governments prioritize technological advancements in defense and industrial sectors, companies like Nominal are well-positioned to capitalize on the growing demand for innovative manufacturing solutions. The $1 billion valuation reflects not only Nominal’s current success but also its potential to scale and diversify its offerings.

Looking ahead, Nominal plans to use the fresh capital to accelerate its expansion into new markets and enhance its software capabilities. The company’s ability to bridge the gap between hardware and software, combined with its deep industry expertise, makes it a compelling player in the manufacturing tech space.

As Nominal continues to grow, it will be interesting to see how it navigates the challenges of scaling its operations and maintaining its competitive edge. With a strong foundation in defense tech and a clear vision for the future, Nominal is undoubtedly a company to watch in the coming years.

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