nominal on thursday announced A new $80M Series B extension round at a valuation of $1B led by Founders Fund. This was followed in September by the company’s $75M Series B round led by Sequoia.
Nominal provides software that helps hardware engineers test their designs and began as a pick-and-shovel type startup for the defense industry. The three-and-a-half-year-old, LA-based company says that in the last 10 months, it has picked up four of the five largest defense contractors as customers.
CEO and co-founder Cameron McCord (pictured) is a former US Navy submarine officer and alumnus of defense technology company Anduril, one of Nominal’s major customers. So perhaps it’s no surprise that Anduril co-founder and executive chairman Troy Stephens, also a Founding Fund partner, led it as a preemptive deal, McCord told Bloomberg. Sequoia, General Catalyst, Lux Capital, Red Glass and Lightspeed also participated.
Next, Nominal plans to expand beyond defense technology into industrial sectors such as automotive, robotics and other industries.
