Chicago-based SaaS intelligent automation platform Catalytic has raised $30 million in Series B funding led by Intel Capital. Redline Capital and existing investors NEA, Boldstart, and Hyde Park Angels also participated in this round.
“Leading enterprises are embracing our vision of customer-led, cloud-based process automation. Many customers have found that Catalytic nicely complements existing technology investments such as robotic process automation (RPA), especially with activities involving unstructured data or that require people in the loop,” said Catalytic CEO and co-founder Sean Chou in a statement. “Intel Capital’s global presence, deep enterprise experience, and leadership in digital transformation will be a tremendous asset as we scale our business.”
Catalytic’s intelligent automation platform can remove as much as 50% to 100% of manual data processing tasks. And the platform has over 200 actions that enable business users to rapidly build an intelligent automation layer to process data, documents, emails, websites, and systems by coordinating people, bots, and artificial intelligence.
With this funding round, Catalytic is going to expand its engineering, sales, and operations to meet increased customer demand. “We’re excited to lead Catalytic’s Series B round, partnering with its team and investors to further accelerate the company’s rapid expansion. Catalytic’s customers are quickly scaling the solution across their operations, validating the offering and vision,” added Wendell Brooks — who is the president of Intel Capital and an SVP at Intel Corporation. “Intel Capital is helping lead the data revolution powered by Intel. We do so, in large part, by supporting exceptional entrepreneurs.”
Some of Catalytic’s intelligent automation platform customers include Bosch, Dentsu Aegis Network, Mayo Clinic, and UL. And NEA chairman and general partner Peter Barris also pointed out that Catalytic’s “innovative and differentiated approach to enterprise process automation has brought significant value to customers across a wide range of industries and functional areas.”