Exclusive: Nova Intelligence raises $31.5 million to bring agentic AI to SAP’s $89 billion migration wave

An estimated 77% of the world’s transactions touch an SAP system at some point. And most of that code is decades old, written in a proprietary language, and locked inside the workflows at the largest enterprises on earth. It is also, by SAP’s own mandate, on a clock.

Nova Intelligence is betting that’s a generational opening. The San Francisco-based startup has raised a $31.5 million Series A led by Chemistry, Fortune exclusively learned, bringing total funding to more than $40 million.