Novel Secures $15 Million in Pre-Series A

by Kay Aloha Villamor in May 30th, 2024

Novel, an Overland Park, KS-based fintech company that provides a capital intelligence platform, secured $15 million in oversubscribed Pre-Series A funding, bringing its total raised to over $130M.  


The round was co-led by IGNIA Partners and Ulu Ventures, with additional participation from MatterScale, Gaingels, and existing investors. This investment round brings Novel's total funding to over $130M.  

Founded in 2007, Ignia is a venture capital investment firm based in Boston, California. The firm invests in global companies that target the emerging middle class in Latin America.  

Ulu Ventures is a seed-stage venture fund in Silicon Valley focused on innovation across enterprise, fintech, consumer, health, and sustainability. It was founded in 2008  and is based in Palo Alto, California.  

Novel Use of Funds  

The company will use the funding to fuel its mission to transform how tech founders fund and grow their businesses.  

About Novel  

Novel specializes in providing innovative solutions to support tech entrepreneurs in funding and growing their businesses. Its Capital Intelligence™ platfrom leverages AI and real-time data to equip founders with non-dilutive capital and essential tools for optimizing their capital stack. Their platform also includes features such as the CEO Dashboard, Valuation Tool, and VentureMatch™, which directly connects founders with top-tier VC firms for equity financing. Novel has supported over 350 SaaS companies with over $100M in non-dilutive funding, providing essential tools such as the CEO Dashboard and Valuation Tool to empower founders.  

Funding Details                                      

Company: Novel Capital, Inc.   

Raised: $15.0M                              

Round: Pre-Series A   

Funding Month: May 2024                     

Lead Investors: IGNIA Partners, Ulu Ventures   

Additional Investors: MatterScale, Gaingels    

Company Website:   

Software Category: Financial


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