Hardware AI Platform Nominal Raises $240M Series C at $3B Valuation

What happened

The round was led by Lightspeed and co-led by Insight Partners, with Lux Capital, Sequoia, General Catalyst, Founders Fund, Lockheed Martin Ventures and Salesforce Ventures among the other investors. The company says the funding will deepen products, expand into new industries and regions, and support strategic acquisitions.

Nominal connects hardware data with the engineering context behind it, letting engineers understand complex systems, investigate problems and make decisions, with AI agents analyzing data from the same foundation. Its first AI agent, Nominal Analyst, investigates engineering data and runs complex analyses, with answers traceable to the underlying evidence.

More than 80 commercial and government organizations use Nominal, including five of the seven largest defense contractors. At Anduril, more than 300 engineers rely on Nominal, and analysis that once took five to six hours now happens in near real time; at HII, a pilot cut some production test steps by about half; at Hermeus, the time between uploading data and reviewing it fell 80% while designing the Quarterhorse Mk 1 aircraft. The Air Force recently awarded a $71.2 million STRATFI contract for Collaborative Combat Aircraft capabilities.

Key facts

1. Round and valuation: $240 million Series C at a $3 billion valuation
2. Lead investors: Led by Lightspeed, co-led by Insight Partners
3. Valuation change: Valued at $1 billion at the March Series B extension of $155 million; tripled in eight months
4. Customer base: More than 80 commercial and government organizations, including five of the seven largest defense contractors
5. Government contract: The Air Force recently awarded a $71.2 million STRATFI contract for Collaborative Combat Aircraft capabilities
6. Customer results: Anduril's 300-plus engineers use it, with five-to-six-hour analysis now near real time; HII's pilot cut some test steps by about half; Hermeus cut upload-to-review time by 80%
7. Acquisitions this year: Acquired Fid Labs and Pull Systems, extending into agents and automotive
8. Use of funds: Deeper products, new industries and regions, strategic acquisitions