NovaData Solutions, a provider of AI-driven software for property restoration invoice analysis, announced it raised a Series A funding round led by Activate Venture Partners. The round included participation by various individual and institutional investors, including Ben Franklin Technology Partners.
This funding will enable the company to enhance its software capabilities further, expand its market reach, and accelerate its growth. And this strategic investment also highlights NovaData Solutions’ commitment to delivering value to its customers and solidifies its position as a leader in the Insurtech market.
NovaData Solutions’ Rest-Assured platform automates reviewing and analyzing of property restoration invoices, utilizing AI to identify cost-saving opportunities and detect potential overcharges.
KEY QUOTES:
“We are thrilled to welcome Activate Venture Partners as an investor in NovaData Solutions. Activate’s wealth of experience will be invaluable as we continue to expand and innovate. This investment is a testament to the strength of our business and the confidence that investors like Activate have in our continued success.”
– Anthony Troy, Co-Founder and CEO of NovaData Solutions
“NovaData Solutions has demonstrated impressive growth potential and a clear vision for the future. We are excited to be a part of the NovaData team and look forward to contributing to their ongoing success.”
– Jeff Davison, Venture Partner at Activate
“We extend our sincere gratitude to Activate Venture Partners and all of our investors for their support. As we embark on this exciting next chapter, we are confident that with support from our existing and new investors, NovaData Solutions will reach new heights of success. We are excited about the opportunities that lie ahead and are committed to driving continued innovation and growth.”
– Chris Troy, Co-Founder and President of NovaData Solutions
