The teams meet Friday in Seattle.
Iowa (21-11) reached 20 wins for the third straight season. Senior forward Aaron White led the Hawkeyes in scoring (16 points) and rebounding (7.5).
Iowa is making its second straight NCAA trip and its fourth straight postseason appearance overall.
Davidson (24-7) made a surprise run to the Atlantic 10 regular-season title under coach Bob McKillop. Led by league player of the year Tyler Kalinoski, the Wildcats were one of the nation's best 3-point shooting teams and led the nation in assist-to-turnover margin entering the postseason.
Davidson is in the NCAAs for the seventh time since 2002, but this is its first at-large bid.