Nominal, a data platform for hardware engineering, announced a $75 million Series B funding round led by Sequoia Capital, bringing its total funding to over $100 million.
The company addresses a critical gap in the market, as existing data analysis tools are either outdated pre-cloud software or modern tools not designed for the complexities of hardware testing and development.
Nominal's multi-product strategy includes 'Core' for centralized data analysis and 'Connect,' a desktop application for high-performance, edge-based test and data acquisition, directly competing with legacy incumbents like National Instruments.
The platform serves a wide range of dual-use industries, including aerospace, defense, energy, and manufacturing, capitalizing on macro trends like supply chain reshoring and accelerated defense development cycles.
12 quotes
Concerns Raised
Generalizing a software platform across highly diverse and complex hardware use cases (e.g., flight testing, nuclear reactors, manufacturing).
Navigating long sales cycles and procurement hurdles inherent in legacy industrial and government sectors.
Competition from entrenched incumbents like National Instruments and Siemens, as well as the persistent 'build-it-yourself' mentality within large engineering organizations.
Opportunities Identified
Displacing legacy industrial software providers with a modern, superior, and more cost-effective product.
Capitalizing on major tailwinds including defense modernization, supply chain reshoring, and the growth of the new space economy.
Becoming the foundational data layer for applying AI and predictive maintenance to physical systems, which is currently hindered by unstructured data.
Expanding into the vast mid-market of industrial suppliers and component manufacturers through the adoption of Nominal Connect.