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

Nominal, a startup focused on hardware testing, has announced an impressive $80 million extension to its Series B funding round, pushing its valuation to $1 billion. This significant funding round is led by Founders Fund and follows a previous $75 million raise that was spearheaded by Sequoia back in September. Founded just three and a half years ago in Los Angeles, Nominal has quickly positioned itself as an essential partner for hardware engineers, particularly in the defense sector. The company has successfully secured contracts with four of the five largest defense contractors in the past ten months, showcasing its rapid growth and industry impact. Cameron McCord, the CEO and co-founder of Nominal, is a former U.S. Navy submarine officer and has a background with Anduril, another prominent defense technology company that is currently one of Nominal's key clients. McCord noted that the participation of Anduril co-founder Trae Stephens, now a partner at Founders Fund, in this latest funding round was a proactive move. In addition to its defense industry roots, Nominal is setting its sights on broader sectors, including automotive and robotics. The startup has already made strides in this direction, with notable clients like Pratt Miller Motorsports, known for its Corvette Racing Team, and Antares, a player in the nuclear energy field.