Summary
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Enterprise service management startup Serval Inc. announced today it has raised $150 million in new funding at a $3 billion valuation to bring its automation agents to more departments beyond information technology.
Serval offers a service management platform where staff describe a workflow in plain language and artificial intelligence agents write the automation, then use it to resolve employee requests as they arrive. Older IT service management products, according to the company, mostly just track tickets. Founded in 2024, Serval started out on the IT help desk, and customers have since pulled the software into human resources, finance and legal work.
A good part of the new money will go to Catalyst, which Serval launched in August. The agent scans support tickets for repetitive tasks and drafts automations that an administrator reviews before anything goes live. Alex McLeod, Serval’s co-founder and chief technology officer, said the point is to give employees outside engineering “a powerful code generation tool” they can use to automate their least fulfilling work.
The round also funds ProServal, a new professional services unit. Over the next 12 months the unit plans to hire more than 100 automation engineers to work on site at large customers, where they will map how work moves between teams and build automations in days. About half will be recent graduates put through a four-week training program.
The hiring is aimed at people who have “grown up building with AI,” according to Jake Stauch, Serval’s co-founder and chief executive. “Nobody has 10 years of experience doing this, because two years ago the tools didn’t exist,” he said.
Headcount at Serval is 10 times what it was a year ago, and the company plans to hire more than 500 additional staff, the ProServal engineers among them, as it opens offices in New York, London and Austin to go with its San Francisco headquarters.
Two Fortune 20 companies have signed on in the last few months to deploy automations across their organizations, joining a customer list that also includes Fox Corp., WPP plc and Live Nation Entertainment Inc. Serval did not disclose its annual recurring revenue. By the company’s account the figure has doubled every quarter since December, and most customers are up and running inside 30 days.
Serval considers ServiceNow Inc. its main competitor. Some large customers are ripping out the incumbent platform altogether, the company claimed, and one automaker completed the switch in 45 days. That migration covered IT service management and the configuration management database along with asset tracking for hardware and software.
Sequoia Capital Operations led the Series C round, Serval’s third in just over a year. Serval’s $75 million Series B round in December, also led by Sequoia, valued the company at $1 billion. Conviction Capital and Headline Management Co. are new investors this time, and Redpoint Ventures LP, General Catalyst Group Management, First Round Capital LP, Evantic Capital and Elad Gil all came back.
Anas Biad, a partner at Sequoia, said Serval is “winning over major enterprises” and has become the system of record for some of them.
Including the $47 million Series A round that Redpoint led in October 2025, investors have now put $277 million into Serval.
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Source: SiliconANGLE
