Chicago, IL, February 4, 2019 — Catalytic, a SaaS intelligent automation platform, has raised $30 million in a Series B financing round led by Intel Capital, with participation from Redline Capital and existing investors NEA, Boldstart, and Hyde Park Angels. The funds will be used to expand the company’s engineering, sales, and operations to meet increased customer demand.
“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 Sean Chou, CEO and Co-Founder, Catalytic. “Intel Capital’s global presence, deep enterprise experience, and leadership in digital transformation will be a tremendous asset as we scale our business.”
“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,” said Wendell Brooks, President of Intel Capital and Senior Vice President of Intel Corporation. “Intel Capital is helping lead the data revolution powered by Intel. We do so, in large part, by supporting exceptional entrepreneurs.”
“I’ve been amazed by the momentum that Catalytic has built in a very short period of time,” said Peter Barris, Chairman and General Partner at NEA. “Its innovative and differentiated approach to enterprise process automation has brought significant value to customers across a wide range of industries and functional areas.”
Catalytic is a SaaS intelligent automation platform that can remove as much as 50% to 100% of manual data processing tasks. The platform has 200+ actions that enable business users to rapidly build an intelligent automation layer to process data, documents, emails, web sites, and systems by coordinating people, bots, and AI. In addition to reducing manual effort, it shortens cycle time to a fraction of the original, and improves accuracy to nearly 100%. Customers include global enterprises such as Bosch, Dentsu Aegis Network, Mayo Clinic, and UL.
About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.3 billion in 1,544 companies worldwide, and more than 660 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $20 billion in cumulative committed capital since the firm’s first fund closed in 1978, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 225 portfolio company IPOs and more than 375 acquisitions. www.nea.com
About Redline Capital
We are a global Venture Capital and Growth Equity fund investing in fast-growing companies with differentiated technologies across North America, Europe and Israel. Redline focuses on entrepreneurs who are transforming industries, and has the depth of expertise to help transformative entrepreneurs as they globalize. Redline is looking to back strong management teams, enable their vision & strategy and lend its support through all stages of their development. For more information about Redline Capital, please visit www.redline-capital.com
Ted Shelton, Catalytic