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NovaData Solutions Inc. logo — Creators of the Rest-Assured® Audit Platform

NovaData Solutions Inc.

Creators of the Rest-Assured® Audit Platform

Founded 2021 United States Philadelphia, United States 14 employees Series A Total: $2.08M Financial Services, Insurance +1

General Information

Company Name NovaData Solutions Inc.
Founded Year 2021
Location United States Philadelphia, United States +1
Employees 14
Industries Financial Services, Insurance, Insurtech
Funding Stage Series A
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About NovaData Solutions Inc.

NovaData Solutions Inc. is a Philadelphia-based insure-tech, SaaS company founded in 2021. The company's flagship product, Rest-Assured™ Audit Platform, leverages advanced data strategies, OCR data capture, and AI learning to improve operational efficiencies and enhance financial anomaly detection in the insurance industry. The platform automates the assessment of invoices, enabling reviewers to concentrate on result analysis rather than manual review and entry tasks. The insurance industry data highlights a significant financial leakage in property restoration claims, estimated at 8-15%, resulting in around $1.9B in overpayments annually. Rest-Assured™ aims to maximize efficiency, reduce loss adjustment efforts and costs, expedite claim payment processing, and minimize financial leakage. The company secured its Series A investment on 20 March 2024, with investments from Activate Venture Partners and Ben Franklin Technology Partners. This investment is expected to drive the company's growth and expansion in the Financial Services, Insurance, and Insurtech sectors.

Taxonomy: InsurTech, OCR data capture, AI learning, Data strategies, Invoice auditing, Insurance industry, Financial anomaly detection, Automated restoration, Financial leakage, Claims resolution, Operational efficiencies, Loss adjustment, Claims processing

Funding Rounds & Investors (2)

View All
Funding Stage Amount Investors Lead Investors Date
Series A •••••• 2
Investor Investor
20 Mar 2024
Seed Round •••••• - 14 Sep 2022

NovaData Solutions Inc. Alternatives & Competitors

NovaData Solutions Inc. vs
Assure Consulting
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NovaData Solutions Inc. vs
Abdulla Al Mulla Auditing of Accounts
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NovaData Solutions Inc. vs
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FAQ About NovaData Solutions Inc.

Creators of the Rest-Assured® Audit Platform
NovaData Solutions Inc. was founded in 2021.
NovaData Solutions Inc. is headquartered in Philadelphia, United States.
NovaData Solutions Inc. operates in the following industries: Financial Services, Insurance, Insurtech.
NovaData Solutions Inc. has approximately 14 employees.
NovaData Solutions Inc. has completed 2 funding rounds, raising a total of $2.08M. The latest funding stage is Series A.
Top alternatives and competitors to NovaData Solutions Inc. include Assure Consulting, Abdulla Al Mulla Auditing of Accounts, BMS Auditing, ANI Healthcare Solutions, Financial Recovery Group (FRG). These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
NovaData Solutions Inc. and Assure Consulting are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

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