Novel is raising a $15M round in order to find tech founders in the capital to turn their visions into reality.

A The new capital injection is expected to help Overland Park-based Novel — backed by two veteran Kansas City tech founders — transform the growth of SaaS startups with its Capital Intelligence platform.

“The tech founder’s journey is often fueled by passion but also fraught with obstacles,” he said Carlos Antequera, CEO and co-founder of Novel, which uses its platform to leverage real-time data and AI to provide analytics, fundraising strategy, and sustainable revenue to B2B SaaS and technology companies. “Due to our entrepreneurial experiences in fundraising and making strategic financial decisions, Novel’s mission is deeper than finance – it is to use technology to guide and support entrepreneurs.”

Novel on Wednesday announced a $15 million pre-booked Series A loan, led by IGNIA employees and Ulu Ventures, to further the fintech expansion of its Capital Intelligence platform. The cycle also includes input from MatterScale, Gaingelsalong with previous investors such as Kansas City-based KCRise Fund.

The latest round of funding brings Novel’s total capital to more than $130 million, furthering its mission to transform the way technology founders support and grow their business.

“Ulu is pleased to continue our support of the Novel team as they drive sustainable growth in a large emerging market,” said Steve Reale, partner and CFO at Ulu Ventures. “Novel has developed a strong product portfolio that addresses the needs of the SaaS environment.”

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Using AI, real-time data, and its innovative capital-as-a-service model, Novel Platform equips founders with steady cash and valuable tools to improve their fundraising. By making strategic fundraising decisions, founders are given the opportunity to grow faster and get better returns.

“Our Capital Intelligence platform and data-driven approach enables access to growth capital and strategic tools, ensuring that every technology founder has the greatest opportunity to transform their vision into be real,” Antequera said.

Novel’s core offering is its flagship Capital-as-a-Service model, a subscription-based funding solution that puts firm control in the hands of founders by eliminating expensive transaction fees, draw , and the down payment, along with the permits.

“With Novel, you understand that you are working with other entrepreneurs and innovators,” said Adam Little, CFO of Vital Data Technology. “They go deeper than just numbers to better understand the company, its path and its market. Novel takes a new approach to growth and risk analysis that is very important for SaaS companies.”

Using its own, data-driven scoring model, Novel can quickly assess how much equity capital can deliver to a tech company by leveraging their key metrics in real-time. , to ensure an accurate estimate that maximizes liquidity, while allowing the company. to succeed at the time of payment.

To date, Novel has worked with more than 350 SaaS companies and awarded more than $100 million in non-discounted funding.

Clients also leverage the Capital Intelligence platform, including their real-time CEO Dashboard, to give founders a bird’s-eye view of their most important metrics; and the Valuation Tool, which allows founders to see their company’s current value and compare it to thousands of other software companies. Novel’s latest offering, VentureMatch, is a data-matching service that connects founders with more than 100 world-class VC partner firms for access to equity capital.

“After experiencing the business world, I learned the important role of finance in supporting business success,” he said. Keith Harrington, COO and co-founder of Novel. “At Novel, our platform not only has the scale to support thousands of entrepreneurs, but also integrates with the economic environment. Our goal is not to cover traditional financial channels but to improve them , to ensure that every tech founder has the tools and money to succeed.”

Thanks to Novel’s new business model, the fintech company’s revenue has increased by more than 120 percent year-on-year since the first quarter of 2024. Its leaders plan to increase Novel’s growth next year and to achieve profitability within the next 18 months – there is another thing that VC values ​​their investment from 2021.

“As entrepreneurs themselves, [Antequera and Harrington] deeply and uniquely understand the financial challenges of starting, operating and scaling businesses,” said Christine Kenna, partner at IGNIA. “With Novel’s customer-centric approach, many startups will succeed, they gain valuable access to important strategic resources. We have great confidence in their ability to change the financial landscape for entrepreneurs, and we couldn’t be more excited for what the future holds.