NovaData Solutions, an AI-driven software provider for invoice analysis in Haverford, PA, raised an undisclosed Series A funding led by Activate Venture Partners.

The round saw participation from Ben Franklin Technology Partners and other institutional investors. Funds will be used to enhance NovaData's property restoration invoice analysis software.

Lead investors Activate Venture Partners aim to help NovaData scale its AI capabilities, expand into new markets, and drive product innovation in the invoice processing space.