3 publishers · first seen Thu, 29 Oct 2026 12:02 UTC · updated Thu, 29 Oct 2026 18:34 UTC
Serval has raised $150 million in a Series C round led by Sequoia, valuing the company at $3 billion, triple its $1 billion valuation from December when it raised $75 million. The San Francisco-based startup, which has raised $277 million in total, develops AI agents that automate workplace tasks, starting with IT operations and expanding into HR, finance, security and legal functions. Its product, Catalyst, enables non-engineers to build automated workflows with built-in permissions and audit controls, and the company says annual recurring revenue has doubled every quarter since the last funding round.
Serval claims two Fortune 20 companies and firms including WPP, Fox Corporation, Live Nation, Ramp and Lucid Motors have adopted its platform, with some migrating from ServiceNow in under 45 days. The company plans to hire more than 500 people in the next year, including over 100 automation engineers for a new professional services unit, and is opening offices in New York, London and Austin. ServiceNow responded by emphasizing its platform's governance and operational depth, while its shares fell sharply after a weaker-than-expected bookings outlook.
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