Catalytic, a Chicago tech startup backed by Intel that makes workflow automation software, is being acquired by PagerDuty, a publicly traded tech firm.
Terms of the deal were not disclosed.
Catalytic was founded in 2015 by Sean Chou, the former CTO and second employee at Chicago tech company Fieldglass, which sold to SAP for more than $1 billion in 2014. Catalytic raised more than $40 million, including a $30 million Series B in 2019 led by Intel. Its other investors include Redline Capital, NEA, Boldstart, Hyde Park Angels and In-Q-Tel, the CIA's venture capital arm.
Catalytic makes no-code software that helps companies automate business processes. It specializes in taking unstructured data, such as business contracts, and automating otherwise manual tasks like processing data and reviewing documents. Its software helps companies free up their employees' time from data-heavy tasks and improve accuracy. Its customers have included Bosch, Mayo Clinic and Fourkites.
PagerDuty (NYSE:PD), founded in 2009, is a cloud computing company that makes an incident response platform for IT departments. It said the Catalytic acquisition will help expand its product to finance, human resources and supply chain sectors. PagerDuty's customers include Cisco, Shopify, Zoom and DoorDash.
“Together, we will ensure PagerDuty customers reach more parts of the business through their automation efforts," Chou said in a statement.
