Nominal raises $240 million at a $3 billion valuation
Eight months after securing a $1 billion valuation, Austin-based Nominal has tripled that figure with a new $240 million financing round. The four-year-old company, which builds AI software for engineering and testing complex hardware, said Lightspeed Venture Partners led the Series C, with Insight Partners co-leading.
Nominal’s latest financing follows a $155 million Series B extension announced in March. Founders Fund’s Trae Stephens led that round, which the company described as a “preemptive” deal initiated by an investor rather than by the startup. Sequoia, General Catalyst and Lux Capital are also among Nominal’s investors.
The company says it serves 80 commercial and government organizations. One customer is Anduril, the defense company co-founded by Stephens. In October, the U.S. Air Force selected Nominal for a $71.2 million Strategic Funding Increase (STRATFI) investment. The program requires recipients to secure matching funds from outside the Air Force.
Nominal’s CEO and co-founder, Cameron McCord, previously served as a U.S. Navy submarine officer and worked at Anduril. The company’s platform is designed for testing and engineering complex hardware, including aircraft, nuclear reactors and smart factories.
Comments (0)
No comments yet. Be the first!