About Novidea
Novidea is a Financial Services company based in Milwaukee (United States) founded in 2009 by Roi Agababa. Agency management platform for insurance brokers and agents is offered. Novidea has raised $110 million across 4 funding rounds from investors including HarbourVest Partners, Battery Ventures and Cross Creek. Novidea has completed 1 acquisition, including Docomotion. Its chief executive, as recorded, is Roi Agababa. Novidea offers products and services including Insurance Management Platform, Workflows and Automation, and Actionable Intelligence. Its focus areas include FinTech, Insurance IT, Insurance Policy Solutions and Insurance Software Suite. Its legal entity is NOVIDEA LIMITED. Its competitors include Socotra and ReSource Pro; 2 of its 2 listed competitors have raised funding.
Company details
Novidea was founded in 2009 and is headquartered in Milwaukee, United States. An agency management platform is provided to support business intelligence and workflow processes. Services are targeted at brokers, agents, managing general agents, bancassurance operations, and corporate risk management. The platform facilitates operations within the insurance sector across various professional roles.
- Total Equity Funding$110M (USD)
in 4 rounds
- Latest Funding Round$30M (USD), Series C
Apr 2024
- InvestorsHarbourVest Partners
& 7 more
- Investments & Acquisitions
Products & Services of Novidea
Novidea offers a comprehensive portfolio of products and services, including Insurance Management Platform, Workflows and Automation, and Actionable Intelligence.
Manages insurance lifecycle with data-driven tools and integrations
Automates insurance processes for efficiency and accuracy
Provides real-time data insights for business growth
Apps and channels of Novidea
its YouTube channel Novidea Insurance Management Platform has 68 subscribers and 30 videos.
Videos from Novidea
The most watched videos on Novidea's YouTube channel, Novidea Insurance Management Platform (68 subscribers). Click a video to play it here.
Funding Insights of Novidea
Novidea has successfully raised a total of $110M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $30 million completed in April 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $110M
- Total Rounds 4
- Last Round Series C — $30M
- First Round $15M
(Nov 2020)
- Investors Count 8
All 4 funding rounds of Novidea with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2024 | $30M | Series C | – | – | |
| May 2023 | $50M | Series C | – | Battery Ventures | |
| May 2021 | $15M | Series B | – | Israel Growth Partners | |
| Nov 2020 | $15M | Series B | – | JAL Ventures |
8 investors in total: 8 institutional.
Investors in Novidea
Novidea has secured backing from 8 investors, including venture fund investors. Prominent investors backing the company include HarbourVest Partners, Battery Ventures and Cross Creek.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private market investment solutions are offered to institutional clients. | 1982 | harbourvest.com | Boston, United States | |
Investments in technology companies are conducted globally by Battery Ventures. | battery.com | |||
Sector-agnostic investments in late-stage startups are made by Cross Creek. | crosscreek.vc | Salt Lake City, United States | ||
Private equity is invested in growth-stage Israeli hi-tech companies. | igpcapital.com | Herzliya, Israel | ||
| ktsquaredllc.com | ||||
| jalventures.com | ||||
Seed & early stage tech-focused VC firm investing primarily in Israel | 2b-angels.com | Tel Aviv, Israel | ||
Early-stage tech startups are funded by corporate-backed Salesforce Ventures. | salesforceventures.com | San Francisco, United States |
Investor details for Novidea
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Novidea
36 people are tracked at Novidea (18 in leadership, 18 in team).
| Name | Role | Group |
|---|---|---|
Roi Agababa | Founder & CEO | Leadership |
Elior Tayar | Director Of Finance | Leadership |
Eran Ben Ezer | CFO | Leadership |
Erez Nissim | Chief Technology Officer | Leadership |
Gilad Segal | CTO Program Manager | Leadership |
Julie Shafiki | Chief Marketing Officer | Leadership |
Maayan Levy Cyzs | VP Strategy | Leadership |
Merav Levin-Gadot | VP of HR | Leadership |
Omer Yedid | Head Of Customer Service | Leadership |
Merav Shina | Human Resources Director | Leadership |
Rolan Shkolnik | Chief Architect | Leadership |
Oren Leshem | VP Sales APAC And Mena, MD Docomotion | Leadership |
Eminadia Lee | Enterprise Business Development Director APAC | Leadership |
Yaniv Cohen | Chief Customer Officer | Leadership |
Paul Richmond | Head Of Customer Success | Leadership |
raz raphael | Head Of Customer Success | Leadership |
Jeff Heine | GTM And Chief Revenue Officer (cro) Advisor | Leadership |
Shanice Tatter | Lead HR Business Partner, UK & US | Leadership |
Nili Seidman | Talent Acquisition Lead | Team |
Yitzik Aharoni | Senior Software Engineer | Team |
16 more people are available in the full profile.
Complete people profiles for Novidea
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Investments & Acquisitions by Novidea
Novidea has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Docomotion.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Personalized documents are generated via the Salesforce platform. | docomotion.com | Netanya, Israel | 1990 | Jul 2024 | •••• |
Complete acquisition details for Novidea
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Timeline of Novidea
4 dated milestones of Novidea across 15 years, from founding to its latest funding, stage changes and deals.
- Founded Novidea is founded.
- Funding First funding round of $15.0M.
- Funding Latest funding round, Series C, of $30.0M.
- Acquisition Acquires Docomotion.
Competitors of Novidea
Novidea has 2 listed competitors in our database, 2 of them funded. They include Socotra and ReSource Pro.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| socotra.com | 2014 | San Francisco, United States | $85.09M | 37 | Cloud-based solutions for insurance policy management and underwriting are offered. | |
| resourcepro.com | 2003 | New York, United States | $87.37M | 3,180 | Insurance policy and claim management solutions for the insurance industry |
Detailed competitors of Novidea
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Web traffic of Novidea
The website of Novidea (novidea.com) receives about 6.7K visits a month.
- Monthly visits6.7K
▲ 35.9% vs previous month
Top companies in Insurance Technology & Support Services
3 companies that operate in the same segment as Novidea (Insurance Technology & Support Services) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based platform for property and casualty insurance is provided. | 2001 | San Mateo, California, United States | USD 1.48 B | 226 | ||
Claims administration, loss adjusting, and benefits management services are provided. | 1969 | Memphis, Tennessee, United States | USD 2.63 M | |||
Online property and casualty insurance is provided for businesses. | 2017 | San Francisco, California, United States | USD 800 M | 699 |
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Related news about Novidea
Complete news archive for Novidea
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Frequently Asked Questions about Novidea
Novidea was founded in 2009 and raised its 1st funding round 11 years after it was founded.
Novidea is headquartered in Milwaukee, United States. It is registered at Milwaukee, Wisconsin, United States.
Roi Agababa is the CEO of Novidea, as recorded in our data. They have also founded this company.
Novidea is a funded company, having raised a total of $110M across 4 funding rounds to date. The company's 1st funding round was a Series B of $15M, raised on Nov 2020.
Novidea was founded in 2009 and is headquartered in Milwaukee, United States. An agency management platform is provided to support business intelligence and workflow processes. Services are targeted at brokers, agents, managing general agents, bancassurance operations, and corporate risk management. The platform facilitates operations within the insurance sector across various professional roles.
Novidea's top competitors include Socotra and ReSource Pro.
Novidea offers Insurance Management Platform, Workflows and Automation, and Actionable Intelligence.
Novidea has made 1 acquisition, including Docomotion.
Novidea has 8 investors. Key investors include HarbourVest Partners, Battery Ventures, Cross Creek, Israel Growth Partners, and KT Squared.
Novidea operates through Novidea Limited.