Nova Intelligence raises $31.5 million Series A to build agentic AI platform for SAP migrations

Nova Intelligence, a San Francisco startup, raised $31.5 million in Series A funding led by Chemistry, bringing total funding to more than $40 million. The round included participation from existing investors Accel, Conviction, and SAP.io (SAP's venture arm).

Nova builds an agentic AI platform (AI that autonomously performs tasks) for SAP that analyzes, modernizes, and generates custom code for payroll, supply chains, and finance systems at Fortune 500 companies. An April 2025 case study with Kyndryl showed Nova's system led to a 75% reduction in manual effort and a 50% cost reduction.

SAP has set a mandatory migration deadline for customers to move from legacy systems to its S/4HANA platform—recently pushed from 2027 to 2030. Analysts peg the broader S/4HANA opportunity at more than $89 billion when implementation, upgrades, and ongoing support are included.