Nominal raises $240 million at a $3 billion valuation

Business · First reported 9 Nov, 13:00 · Updated 13:55

Image: Wikimedia Commons · NASA/USGS · Public domain

Hardware-testing software company Nominal announced a $240 million Series C round led by Lightspeed Venture Partners and Insight Partners, valuing it at $3 billion. The company says its platform brings engineering and test data together for analysis, and plans to use the funding to develop more applications and expand into new industries and regions.

Nominal announced it raised $240 million in a Series C round led by Lightspeed Venture Partners and Insight Partners. Its $3 billion valuation is three times the $1 billion valuation reported in March.
Nominal’s software combines hardware-test results and engineering context, while its AI agent, Nominal Analyst, analyzes the data and links its findings to evidence.
The company says more than 80 commercial and government organizations use its platform, including five of the seven largest defense contractors.
Nominal plans to invest in agents and applications for different stages of a machine’s life, and to expand into new industries and regions. It also reported acquisitions of Fid Labs and Pull Systems.
TNW reported that Nominal’s revenue had more than tripled so far this year, citing the company, and linked the growth to a boom in defense technology spending, citing Bloomberg.

Summary written by Lux AI from 3 articles

Key facts

Funding: $240 million Series C
Valuation: $3 billion, triple the $1 billion valuation reported in March
Lead investors: Lightspeed Venture Partners and Insight Partners
Reported platform users: More than 80 commercial and government organizations
US Air Force award: $71.2 million Strategic Funding Increase, as reported by TNW