About Novidea
Novidea is a company based in Milwaukee (United States) founded in 2009 by Roi Agababa. 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. Novidea offers products and services including Insurance Management Platform, Workflows and Automation, and Actionable Intelligence. Novidea operates in a competitive market with competitors including Riskcovry, Socotra, FintechOS, ReSource Pro and eBaoTech, among others.
- Headquarter Milwaukee, United States
- Founders Roi Agababa
-
Sectors
Financial Services
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Novidea Limited
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$110 M (USD)
in 4 rounds
-
Latest Funding Round
$30 M (USD), Series C
Apr 10, 2024
-
Investors
HarbourVest Partners
& 7 more
-
Employee Count
Employee Count
- Investments & Acquisitions
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
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
People of Novidea
Unlock access to complete
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 Total Funding
- Total Rounds 4
- Last Round Series C — $30.0M
-
First Round
First Round
(24 Nov 2020)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2024 | Amount | Series C - Novidea | Valuation |
investors |
|
| May, 2023 | Amount | Series C - Novidea | Valuation | Battery Ventures | |
| May, 2021 | Amount | Series B - Novidea | Valuation | Israel Growth Partners |
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.
|
Founded Year | Domain | Location | |
|
Investments in technology companies are conducted globally by Battery Ventures.
|
Founded Year | Domain | Location | |
|
Sector-agnostic investments in late-stage startups are made by Cross Creek.
|
Founded Year | Domain | Location |
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 Year | Amount |
|---|---|---|---|---|---|
|
Personalized documents are generated via the Salesforce platform.
|
1990 |
Financial Statements - Novidea
Novidea Comparisons
Competitors of Novidea
Novidea operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Riskcovry, Socotra, FintechOS, ReSource Pro and eBaoTech, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
A platform for digital insurance distribution and management is provided.
|
|
| domain | founded_year | HQ Location |
Cloud-based solutions for insurance policy management and underwriting are offered.
|
|
| domain | founded_year | HQ Location |
AI-based software suite is provided for banking and insurance sectors.
|
|
| domain | founded_year | HQ Location |
Insurance policy and claim management solutions for the insurance industry
|
|
| domain | founded_year | HQ Location |
Cloud-based insurance software suites are developed for insurers and partners.
|
|
| domain | founded_year | HQ Location |
Cloud-based software solutions for credit insurers, surety bonds & trade finance
|
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 current CEO of Novidea. 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 24, 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 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.