NovaData Solutions Raises Series A Funding

NovaData Solutions, a Haverford, PA-based provider of AI-driven software for property restoration invoice analysis, raised an undisclosed amount in Series A funding.

The round was led by Activate Venture Partners with participation from various individual and institutional investors including Ben Franklin Technology Partners.

The company intends to use the funds to further enhance its software capabilities, expand its market reach, and accelerate its growth.

Led by CEO Anthony Troy, NovaData Solutions provides a Rest-Assured® platform that automates the review and analysis of property restoration invoices, leveraging artificial intelligence (AI) to identify cost-saving opportunities and detect potential overcharges. This approach has garnered widespread recognition and industry adoption, solidifying its reputation as a used partner for businesses in the property restoration sector.

Commenting on the news, Anthony Troy said: “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.”