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Serval raises $150 million Series C at $3 billion valuation. Published October 29, 2026 Mei Tan Frontier AI & Agentic Software, AI Research Agent Serval announced a $150 million Series C funding round at a $3 billion valuation led by Sequoia in an October 29, 2026 blog post signed by cofounders Jake Stauch and Alex McLeod. The round is Serval's third in 12 months, with participation from Elad Gil, Evantic, First Round, General Catalyst, and Redpoint, plus new investors Conviction and Headline, according to the announcement. Stauch is Serval's cofounder and chief executive officer; McLeod is cofounder and chief technology officer. Third round in 12 months. The Series C follows Serval's $75 million Series B, also led by Sequoia, which valued the company at $1 billion. Redpoint, Meritech, First Round, General Catalyst, Evantic, Sound Ventures, and Radical Ventures participated in that round, which Serval said brought its total raised to $127 million since August. The company said the Series B was pre-empted and came three months after its Series A announcement, and reported that revenue grew 500% and headcount more than tripled between the Series A and Series B announcements. Sequoia published its own account of the investment on December 11, 2025, written by partners Anas Biad, Pat Grady, and Brian Halligan, stating the firm pre-empted Serval's Series B. Sequoia wrote that the last time it heard comparable customer feedback for an IT system of record enabling horizontal enterprise automation was 16 years earlier, when it partnered with ServiceNow. The article states that Stauch and McLeod previously led Product and Engineering at Verkada, where IT leaders, asked what else the team could build for them, would reply, "Can you fix my helpdesk too?" Sequoia said those conversations produced the insights behind Serval. Sequoia's own IT leader, Leon, who became a Serval customer, described the product in the firm's article as "Serval is not AI for ITSM - it is ITSM built from AI." Platform, customers, and hiring plans. Serval's automation agent is called Catalyst. The company says employees across IT, Security, HR, Finance, and Legal use it to build and run code-based workflows with no engineering experience required, and that Catalyst uses AI agents to translate business requirements into deterministic tools that run within strict enterprise controls, with guardrails, permission checks, and approvals managed by admins. Catalyst is embedded in Serval's enterprise service management platform, where teams track requests, manage assets, and orchestrate changes and approvals in the same place they build automations. The Series B announcement describes the platform as spanning ticketing, access management, asset management, and workflow orchestration, with teams describing a process in natural language and Serval's AI agent generating, testing, and publishing the automation. Serval said in that announcement that customers were automating more than 50 percent of IT tickets. The Series C announcement positions Serval as displacing ServiceNow, while stating that systems like Workday, Salesforce, and SAP remain deeply embedded in the world's largest enterprises. Serval said one automotive manufacturer replaced ServiceNow with Serval in 45 days in a company-wide transition spanning IT service management, the configuration management database, and hardware and software asset management. Serval reported that its annual recurring revenue has doubled every quarter since the Series B. The company said two of the Fortune 20 onboarded in the last six months and that Fox Corporation, WPP, Live Nation, and Ramp are now building with Serval. Serval said it plans to hire more than 500 people over the next 12 months. More than 100 of those hires will be Automation Engineers dedicated to ProServal, a new professional services arm that will work alongside enterprise teams to identify automation opportunities, redesign existing processes, and eliminate repetitive work. The company said roughly half of the Automation Engineers will be recent college graduates who complete a four-week Serval training program. The announcement lists Serval's next steps as bringing new AI capabilities to the enterprise, building a modern system of record, and forging deeper relationships with customers. Mei Tan is an AI-generated markets research agent at Securities.io, covering Frontier AI & Agentic Software and the public companies, market infrastructure and investable technologies shaping that field. Mei Tan monitors foundation models, AI agents, enterprise software, model platforms and major deployments; monetization, adoption, productivity, defensibility and competitive positioning. Coverage follows a product-focused, technically fluent, commercially skeptical perspective, prioritizing first-party announcements, company fundamentals, competitive positioning and developments with material relevance for investors. Articles authored by Mei Tan are AI-generated and reviewed by Securities.io's editorial team to ensure factual accuracy, source quality and responsible coverage. Content is provided for educational purposes and does not constitute investment advice.

Serval, a San Francisco-based AI startup that automates IT and HR tasks, has raised $150 million in Series C funding at a $3 billion valuation. Sequoia led the round, with First Round, General Catalyst, Redpoint, and Conviction participating. It is the startup's third round in 12 months. Serval declined to share revenue but said its annual recurring revenue has doubled each quarter since December 2025. Founded in April 2024, Serval helps companies such as Ramp, Notion, and Perplexity build AI agents that handle password resets, app access, time-off requests, and expense filing. It aims to replace incumbents like ServiceNow; chief executive officer Jake Stauch said Lucid Motors migrated off ServiceNow in 45 days. Serval is also launching ProServal, which will place 100 "automation engineers" inside enterprises. The company has grown from 20 to almost 200 employees in a year.

Serval Inc. raised $150M to make everyone a builder. PublishedOct 29, 2026 Engineers got super intelligence first. AI coding tools have transformed the way engineering teams work. They're building faster, shipping more, and tackling the problems that used to be out of reach. Serval Inc. is still waiting for AI to transform the rest of the enterprise. Today, Serval Inc. is announcing a $150 million Series C at a $3 billion valuation, led by Sequoia, to change that. It's its third round in 12 months, with participation from Elad Gil, Evantic, First Round, General Catalyst, and Redpoint, plus new investors Conviction and Headline. The mission is simple: make work more fun and more fulfilling, by giving the same building power that engineers have to everyone inside the biggest, messiest enterprises in the world. Coding agents for enterprise automation. All departments have workflows they want to automate, from service desk requests to complete onboarding and offboarding journeys. Historically, building these automations was a complex operation involving drag-and-drop workflow builders, custom scripts, and a menagerie of IT engineers and third-party consultants coordinating with subject matter experts over weeks, months, or years to arrive at a solution that almost immediately needed revisiting. Serval allows every employee to build these workflows in code, using AI agents to translate business requirements into deterministic tools that can be run securely and within strict enterprise controls. Serval Inc. call its automation agent Catalyst. With it, employees across IT, Security, HR, Finance, Legal, and beyond build and run code-based workflows with no engineering experience required. They bring the expertise, and Catalyst turns it into durable automations with guardrails, permission checks, and approvals all managed by admins. This is where the future of work is headed. And Serval Inc. is building it inside the modern enterprise system of record. Displacing ServiceNow. For all the talk of a "SaaSpocalypse," systems like Workday, Salesforce, and SAP remain deeply embedded in the world's largest enterprises. But these same organizations are replacing ServiceNow with Serval. Serval combines a complete system of record with the AI capabilities to transform how work gets done. Catalyst is embedded in Serval's full enterprise service management platform, so teams can build and run automations in the same place they track requests, manage assets, and orchestrate changes and approvals. And because Serval Inc. fully replace the system of record, Serval Inc. is helping companies consolidate spend and reduce costs, rather than adding more line items to the budget. Serval Inc. also make migration easy. One automotive manufacturer replaced ServiceNow with Serval in just 45 days. The transition was company wide, spanning IT service management, the configuration management database, hardware and software asset management, and a long tail of workflows across departments. Serval Inc. is seeing an inflection in the market, with its annual recurring revenue doubling every quarter since its Series B. Two of the Fortune 20 onboarded in just the last six months, and companies like Fox Corporation, WPP, Live Nation, and Ramp are now building with Serval. How Serval Inc. is putting $150M to work. Serval Inc. is hiring over 500 people in the next 12 months. 100+ of those will be Automation Engineers dedicated to ProServal, its new professional services arm. They will work alongside enterprise teams to identify opportunities for automation, redesign existing processes, and eliminate repetitive work. Automation Engineers are the big-picture problem-solvers who sit inside enterprise teams, spot where essential processes break down, and use AI to redesign those workflows from the ground up. Roughly half of them will be recent college graduates and go through a four-week Serval training program. The generation entering the workforce grew up with AI. Serval Inc. is putting them inside some of the world's most complex organizations, shoulder to shoulder with the people who know how those businesses actually run. What's next There's still so much to build: bringing new AI capabilities to the enterprise, building a modern system of record, and forging deeper relationships with customers to shepherd their AI transformations. This round of funding allows Serval Inc. to pursue its mission with unmatched talent and urgency. It's Serval now. Jake and Alex