Nominal, a New York-based company utilizing generative AI to modernize ERP systems for mid-market businesses, has raised $9.2 million in seed funding.
Investors
The round was led by Bling Capital and Hyperwise Ventures, with participation from Vela Partners, Incubate Fund, and executives from Bill.com, Salesforce, Justworks, ServiceNow, and Intel.
Founded in 2018, Bling Capital is a venture capital firm that focuses on Seed and Series A. Based in Miami Beach, Florida, the firm invests in early-stage consumer technology, internet and mobile, data, fintech, software as a service (SaaS), and automation companies. Bling Capital serves customers in the United States.
Hyperwise Ventures is a venture capital firm, leading seed investments in the cybersecurity and enterprise software domains. It invests in entrepreneurs with ground-breaking technologies and materially assists in accelerating the business execution of its portfolio companies.
Nominal Use of Funds
The company plans to use the funds to accelerate its product offering, expand its market reach, and increase sales and support resources in the U.S. The company primarily focuses on mid-market, multi-entity companies such as holding companies, real estate, energy, and multinational technology companies in its initial go-to-market plans.
About Nominal
Founded by Guy Leibovitz and Golan Kopichinsky, Nominal modernizes and automates accounting and financial management, providing robust reporting, multi-entity consolidation, workflow automation, period-end close collaboration, and more, catering to industries such as holding companies, real estate, energy, and multinational technology companies. The platform offers generative sub-ledgers powered by AI, seamlessly extending existing ERPs and general ledgers without migration or disruption to current operations. Nominal is currently deployed across hundreds of entities, managing over $1 billion in book value.
Funding Details
Company: Nominal, Inc.
Raised: $9.2M
Round: Seed Round
Funding Month: March 2024
Lead Investors: Bling Capital, Hyperwise Ventures
Additional Investors: Vela Partners, Incubate Fund
Company Website: https://www.nominal.so/
Software Category: Financial
Source: https://www.businesswire.com/news/home/20240327000607/en