Nominal Raises $240 Million at $3 Billion Valuation

The deal and investors

Nominal Inc., the startup behind manufacturing-efficiency software, has raised $240 million and plans to announce the financing Monday, giving the company a $3 billion valuation. That valuation is three times what investors gave it in a financing earlier this year. The deal was led by Lightspeed Venture Partners and Insight Partners, and also included Lux Capital, Sequoia Capital and Lockheed Martin Ventures.

What the platform does and who uses it

Nominal offers a platform that lets hardware companies test designs and track progress, with a focus on defense, space, energy and automotive customers. The software is in use at over 80 government and commercial entities, among them five of the seven biggest defense contractors.

Growth, strategy and runway

According to the company, revenue is up over threefold this year to date, citing a boom in defense technology spending as a tailwind.

New technologies reshape how investors research companies, and learning them can help. We're hosting our first ever investor livestream on 11/17 to show you how to use ChatGPT and Claude to invest like a pro, hosted by Briefs Finance CEO Jaspreet Singh. Save your seat.

Where the money goes

Management plans to put the new capital into product development and expansion into additional regions and industries. It is considering additional acquisitions following the purchase of two startups earlier this year. The bottom line: more resources for R and D and go to market can widen its footprint in sectors that matter to your portfolio, especially defense and industrial tech.

Savvy investors embrace smarter tools to refine judgment and gain clearer perspective. On 11/17, our CEO Jaspreet Singh goes live for our first ever investor livestream on how to use ChatGPT and Claude to invest like a pro. Register to join him.