NovaData Solutions Secures New Investment Led by Activate Venture Partners

HAVERFORD, Pa., March 20, 2024 /PRNewswire/ -- NovaData Solutions, a leading provider of AI-driven software for property restoration invoice analysis, is pleased to announce the acquisition of new Series A investment funding led by Activate Venture Partners. This funding marks a significant milestone in NovaData Solutions' growth and enhances its position as a prominent player in the industry.

NovaData Solutions' Rest-Assured^® platform automates the review and analysis of property restoration invoices, leveraging artificial intelligence (AI) to identify cost-saving opportunities and detect potential overcharges. This innovative approach has garnered widespread recognition and industry adoption, solidifying NovaData Solutions' reputation as a trusted partner for businesses in the property restoration sector.

"We are thrilled to welcome Activate Venture Partners as an investor in NovaData Solutions," said Anthony Troy, Co-Founder and CEO of 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."

Jeff Davison, Venture Partner with Activate, expressed his enthusiasm for the partnership, stating, "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."

NovaData's Series A financing, led by Activate Venture Partners with participation by various individual and institutional investors including Ben Franklin Technology Partners, will enable the company to further enhance its software capabilities, expand its market reach, and accelerate its growth. This strategic investment underscores NovaData Solutions' commitment to delivering unparalleled value to its customers and solidifies its position as a leader in the Insurtech market.

"We extend our sincere gratitude to Activate Venture Partners and all of our investors for their support," added Chris Troy, Co-Founder and President of NovaData Solutions. "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."

For more information about NovaData Solutions and its AI-driven software solutions, please visit novadata-solutions.com.

Contact: Chris Troy, [email protected]

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SOURCE NovaData Solutions