NovaData Solutions, headquartered in Haverford, PA, has successfully closed a Series A funding round, the amount of which remains undisclosed. Activate Venture Partners spearheaded the round, with a consortium of individual and institutional investors, including Ben Franklin Technology Partners, joining in.
The funding injection is earmarked to bolster NovaData Solutions’ software capabilities, broaden its market outreach, and propel its expansion initiatives.
Under the stewardship of CEO Anthony Troy, NovaData Solutions specializes in AI-driven software tailored for property restoration invoice analysis. Their proprietary Rest-Assured® platform automates invoice review processes, utilizing advanced artificial intelligence algorithms to pinpoint potential cost-saving avenues and flag any instances of overcharging. This innovative approach has garnered widespread acclaim and adoption within the property restoration industry, cementing NovaData Solutions’ position as a trusted ally for businesses operating in this sector.
Reflecting on this milestone, Anthony Troy expressed his confidence in the partnership with Activate, emphasizing their wealth of experience. He sees this investment as a resounding endorsement of NovaData Solutions’ robust business model and the bright prospects that lie ahead.
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By Ravi Kumar