Hardware testing startup Nominal has recently achieved a significant milestone, reaching a valuation of $1 billion and securing $155 million in funding over the past 10 months. The latest funding round, an $80 million Series B extension, was led by Founders Fund, following a previous $75 million Series B round led by Sequoia in September.
Nominal specializes in providing software that aids hardware engineers in testing their designs, initially focusing on serving defense tech companies. The Los Angeles-based company has rapidly expanded its client base, attracting four of the five largest defense contractors as customers within a short span of time.
CEO and co-founder Cameron McCord, a former U.S. Navy submarine officer with experience at defense tech firm Anduril, has strategically positioned Nominal in the market. The company’s customer roster includes prominent names like Anduril, Pratt Miller Motorsports, and Antares, indicating its growing influence across various industries beyond defense tech.
Looking ahead, Nominal plans to diversify its offerings into industrial sectors such as automotive, robotics, and other key industries. With strong backing from investors like Founders Fund and Sequoia, Nominal is poised to continue its trajectory of success and innovation in the hardware testing space.
Source: TechCrunch