NovaData Solutions Secures Series A Funding
NovaData Solutions, a Haverford, PA-based provider of AI-driven software for property restoration invoice analysis, has secured Series A funding.
NovaData Solutions, a Haverford, PA-based provider of AI-driven software for property restoration invoice analysis, has secured Series A funding.
Investors
The round was led by Activate Venture Partners with participation from various individual and institutional investors including Ben Franklin Technology Partners.
Founded in 1999, Activate Venture Partners is a venture capital firm based in New York, New York. The firm invests in enhanced technology service businesses in the media and marketing services, healthcare information technology, and financial services information technology sectors.
NovaData Solutions Use of Funds
The funding will enable NovaData Solutions to enhance its software capabilities, expand its market reach, and accelerate its growth. The company aims to further innovate its Rest-Assured® platform, which automates the review and analysis of property restoration invoices using artificial intelligence (AI), identifying cost-saving opportunities and potential overcharges.
About NovaData Solutions
NovaData Solutions is an insuretech SaaS company offering a platform for automated restoration invoice scraping, auditing, and analysis. Leverages advanced data strategies and AI learning, the company’s Rest-Assured® platform, automates invoice review processes, providing businesses in the property restoration sector with actionable insights to optimize costs and improve efficiency.
Funding Details
Company: NovaData Solutions, Inc.
Raised: Undisclosed
Round: Series A
Funding Month: March 2024
Lead Investors: Activate Venture Partners
Additional Investors: Ben Franklin Technology Partners
Company Website: https://novadata-solutions.com/
Software Category: Restoration Invoice Audit
