Nominal raises $9.2 million in Seed funding to modernize enterprise planning with GenAI | CTech

In the dynamic world of enterprise resource planning (ERP) and AI technology, Israeli startup Nominal has moved one step closer to its vision by securing a successful seed funding round of $9.2 million. AlphaFund, known for partnering with venture capital firms across North America and interviewing startup founders from various industries, sat down with Guy Leibovitz – CEO and co-founder of Nominal. In this exclusive interview, we dove into the intricacies of their successful seed funding, the company’s objectives, and the promising future that lies ahead.

Interview with Guy Leibovitz, Co-Founder and CEO of Nominal

**Q1:** Can you introduce Nominal and shed light on the successful closure of your seed funding round?
**A1:** Nominal is an enterprise planning platform that leverages generative AI and cloud technology to modernize accounting and financial management in mid-market businesses. Our recent seed funding round was led by Bling Capital and Hyperwise Ventures, who along with Vela Partners, Incubate Fund and executives from prestigious companies like Bill.com, Salesforce, Justworks, ServiceNow and Intel, recognized the urgent need for an automated and robust solution in our market space.

**Q2:** Congratulations on raising $9.2 million in your seed round. How does this financial milestone align with Nominal’s goals?
**A2:** This financial milestone largely aligns with our goal to repair the fragmented ERP market. The seed fund will help us expand our technologically advanced solutions to businesses globally, paving the way for increased efficiency in the accounting and financial management sphere.

**Q3:** Who were the key investors in this seed round, and what influenced their decision to invest in Nominal?
**A3:** Bling Capital and Hyperwise Ventures were our lead investors. The crucial factors that encouraged them to invest were our unique application of AI technology to solve existing market issues and our seasoned leadership team’s proven track record.

**Q4:** Operating within the ERP and AI technology industry, how does Nominal aim to impact this sector?
**A4:** We are striving to revolutionize the ERP sector by addressing the challenges presently faced by businesses. We believe our AI-driven technology, that automates complex financial processes, empowers finance teams to focus more on strategy rather than being limited to managing spreadsheets.

**Q5:** With the seed funding secured, what are the main objectives for utilizing this capital?
**A5:** We intend to utilize these funds to advance our solutions further, extend our outreach, and increase our talent pool to drive innovation within the company.

**Q6:** Could you share some critical milestones or achievements of Nominal that were pivotal in securing this seed funding?
**A6:** A noteworthy achievement has been deploying our platform across hundreds of entities, managing over $1 billion in book value. This portrayed our capability to handle significant volumes and scale, establishing a sense of trust with our investors.

**Q7:** How will the seed funding round influence Nominal’s future plans and growth strategy? Are there any upcoming projects that are now possible because of this funding?
**A7:** This funding round will enable us to expedite our growth strategy, allowing us to deliver higher value to our clients. We have several projects lined up, which will be disclosed in due course.

Conclusion

Through this conversation with Guy Leibovitz, it’s clear that Nominal is on a trajectory of growth and innovation, fueled by their recent seed funding. AlphaFund, with its extensive network of VC partnerships across North America, continues to spotlight the journeys of startups like Nominal, showcasing the vibrant landscape of opportunities and entrepreneurial spirit in the tech industry.

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