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Revel has raised $150 million in Series B funding, valuing the company at over $1 billion. The round was led by Index Ventures, with participation from Redpoint Ventures, Thrive Capital, Felicis, and angel investor Dylan Field.

Revel develops software for testing and controlling complex hardware systems, addressing the need for modern tools in aerospace, defense, and robotics. Its software, including RevelCode and RevelTest, significantly reduces testing time from months to hours. The company plans to use the funds for team expansion and product development, targeting sectors like oil, gas, and medical devices.