Defense Tech Signals · Capital vs. Contracts Open-source analysis · public data only Data as of Nov 8, 2026 · obligations refresh every other Monday
NatSec100 #59

Nominal

Recipient: NOMINAL, INC. · UEI QPBJMYLAF787

About $22 raised for every $1 obligated. 100% of it came through prime contracts.

Capital raised
$182.0M
Federal obligations, FY2020–FY2026
$8.3M
Raised per $1 obligated
21.9×
Latest valuation
$1.0B
Series B-2, Mar 2026

Obligations by fiscal year

$M
0 FY20 0 FY21 0 FY22 1.3 FY23 3.0 FY24 1.8 FY25 2.2 FY26

Prime contracts Other Transactions Subawards

Contract mix

Prime contracts
$8.3M
Other Transactions
$0
Subawards
$0

Cite this: Defense Tech Signals, "Capital vs. Contracts: Nominal," data as of 2026-11-08, https://data.defensetechsignals.com/c/nominal/.

Coverage: prime contracts, IDVs and grants (USAspending), direct Other Transactions (FPDS) and subawards received, FY2020–FY2026. Not included: consortium OTs, FY 2027 so far, loans and classified work. Capital raised: SVDG 2026 report total, plus later announced rounds. Obligations last refreshed 11/5/2026.