Nominal announced an $80 million Series B extension at a $1 billion valuation, led by Founders Fund. This follows a $75 million Series B led by Sequoia in September. The startup provides software for testing hardware designs and began serving the defense industry. In 10 months, it secured four of the five largest defense contractors as clients.
CEO and co-founder Cameron McCord is a former U.S. Navy submarine officer and Anduril alum, with Anduril being a key customer. Anduril co-founder Trae Stephens, also a Founders Fund partner, led this preemptive deal. Other participants were Sequoia, General Catalyst, Lux Capital, Red Glass, and Lightspeed.
Nominal plans to expand into sectors like automotive and robotics. Current customers include Pratt Miller Motorsports and nuclear company Antares.