Hardware testing startup Nominal has announced a fresh $80 million Series B extension round at a $1 billion valuation, led by Founders Fund.
This follows the company’s $75 million Series B round led by Sequoia in September, bringing the total raised in the last 10 months to $155 million.
As reported by Bloomberg, Nominal’s CEO and co-founder Cameron McCord confirmed the deal, which was led by Anduril co-founder and executive chairman Trae Stephens, also a Founders Fund partner.
The Funding Round
Sequoia, General Catalyst, Lux Capital, Red Glass, and Lightspeed also participated in the round, which values the three-and-a-half-year-old company at $1 billion.
Nominal offers software that helps hardware engineers test their designs, initially focusing on the defense industry, where it has landed four of the five largest defense contractors as customers.
Product Details
The company plans to expand beyond defense tech and into industrial sectors like automotive, robotics, and other industries, with customers including Pratt Miller Motorsports and nuclear energy company Antares.
Cameron McCord, a former U.S. Navy submarine officer and Anduril alum, co-founded Nominal, which is also one of Anduril’s marquee customers.
What This Means for the Industry
Nominal’s expansion into new sectors and significant funding round demonstrate the growing demand for hardware testing solutions, particularly in industries with complex engineering requirements.
