Chicago RPA startup Catalytic hauls in $30M Series B

TechCrunch | 2/4/2019 | Staff
chicana948 (Posted by) Level 3
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Robotics Process Automation (RPA) is as hot as any enterprise technology at the moment, as companies look for ways to marry their legacy systems with a more modern flavor of automation. Catalytic, a startup from the midwest is putting its own flavor on RPA, aiming at more unstructured data. Today it was rewarded with a $30 million Series B investment.

The investment was led by Intel Capital with participation from Redline Capital and existing investors NEA, Boldstart and Hyde Park Angel. Today’s round brings the total raised to almost $42 million, according to the company.

RPA - Processes - Sean - Chou - Catalytic

RPA helps automate highly mundane processes. Sean Chou, Catalytic co-founder and CEO says there are a couple of ways his company’s solution diverts from his competition, which includes companies like Blue Prism, Automation Anywhere and UIPath.

For starters, Chou says, his company’s solution concentrates on unstructured data like pulling information from documents or emails using a variety of techniques, depending on requirements. It could be old-fashioned scanning and OCR or more modern natural language process (NLP) to “read” the document, depending on requirements.

RPA - Tools - Humans - Loop - Business

It is designed like all RPA tools to take humans out of the loop when it comes to the most mundane business processes, but as Chou says, his company wants human employees in...
(Excerpt) Read more at: TechCrunch
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