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

"Nominal offers software that helps hardware engineers test their designs and began as a picks-and-shovels type of startup for the defense industry. The three-and-a-half-year-old, L.A.-based company says that in the last 10 months, it has landed four of the five largest defense contractors as customers."

"CEO and co-founder Cameron McCord is a former U.S. Navy submarine officer and Anduril alum, the defense tech company, which is also one of Nominal's marquee customers. So perhaps it's no surprise that Anduril co-founder and executive chairman Trae Stephens, who is also a Founders Fund partner, led this as a preemptive deal."

"Next up, Nominal plans to expand beyond defense tech and into industrial sectors like automotive, robotics, and other industries."

Nominal, a three-and-a-half-year-old Los Angeles-based software company, announced an $80M Series B extension round at a $1 billion valuation, led by Founders Fund. This follows the company's $75M Series B round from Sequoia in September. Nominal provides software enabling hardware engineers to test and validate their designs. Originally serving the defense industry, the company has secured four of the five largest defense contractors as customers within the last ten months. CEO Cameron McCord, a former U.S. Navy submarine officer and Anduril alumnus, led the company's expansion strategy. The funding round was structured as a preemptive deal by Anduril co-founder Trae Stephens, a Founders Fund partner. Additional investors include Sequoia, General Catalyst, Lux Capital, Red Glass, and Lightspeed. Nominal plans to expand beyond defense technology into automotive, robotics, and other industrial sectors.

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