Nominal Secures 20M Series A Funding for AI-Powered ERP Platform
Nominal raises 20M in Series A funding to expand its AI-native ERP platform, automating finance tasks for mid-market and enterprise companies with agentic AI.
Key Highlights:
- Funding Round: Nominal, an AI-native ERP startup, has secured $20M in Series A funding led by Next47, with participation from Workday Ventures, Bling Capital, and Hyperwise Ventures. This brings the company's total funding to $30M.
- Market Opportunity: The ERP market, valued at $220B and growing at 17% annually, is ripe for disruption, with 50% of CIOs planning ERP upgrades in the next two years.
- Founders' Background: Founded by Guy Leibovitz (CEO) and Golan Kopichinsky (CTO), the team behind Cognigo (acquired by NetApp in 2019), Nominal combines expertise in AI and data security.
AI-Powered Financial Automation
Nominal's platform leverages agentic AI to automate complex finance tasks such as:
- Transaction matching
- Balance sheet and bank reconciliations
- Multi-entity consolidation
- Variance analysis
- Complex journal entries
The platform operates as a shadow general ledger, integrating seamlessly with existing ERPs without requiring migration. This approach reduces errors, accelerates month-end close, and frees finance teams to focus on strategic decision-making.
Industry Impact
Already deployed with clients like Jiffy Lube and GoGlobal Travel, Nominal addresses critical pain points:
- Labor Shortages: With 300,000 CPAs missing from the U.S. workforce, AI automation becomes essential.
- Legacy System Limitations: Traditional ERPs lack the speed and adaptability for modern financial operations.
Investor Perspective
"ERP platforms have failed to adapt to the AI era," said Matthew Cowan, General Partner at Next47. "Nominal’s AI-native approach brings modern capabilities without forcing trade-offs."
Looking Ahead
Nominal aims to capitalize on the growing demand for AI-driven financial solutions, positioning itself as a leader in the evolving ERP landscape.
Learn more: Nominal Official Website
Source: AccessNewswire
Featured image: Guy Leibovitz and Golan Kopichinsky. Credit: Sarel Keren
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