Serval has raised $150 million in a Series C led by Sequoia at a $3 billion valuation, tripling its December valuation as it tries to replace the software large companies use to manage everyday work. The bet is bigger than an AI help desk: Serval wants employees to build automations without writing code themselves.
The financing is Serval's third round in 12 months. Existing backers including Elad Gil, First Round, General Catalyst, Evantic and Redpoint participated, alongside new investors Conviction and Headline. The company was valued at $1 billion when it announced its $75 million Series B in December 2025.
From ticket queues to AI-built workflows
Serval started with IT support but is now targeting processes across HR, finance, legal and security. Its Catalyst agent turns instructions from employees into code-based workflows, with administrator-managed permissions, approvals and guardrails.
Think of onboarding a new employee. Instead of someone stitching together access requests, equipment orders and approval chains, a team can describe what needs to happen and let Catalyst build the steps. Serval says those automations run inside the same platform that records requests, assets and changes.
It wants ServiceNow's job
This is where the ambition gets interesting. Serval is not pitching itself as another AI layer on top of ServiceNow. It says companies can replace the underlying service-management system entirely.
As evidence, Serval says one automotive manufacturer moved its IT service management, configuration database, asset management and related workflows from ServiceNow in 45 days. The company also says two Fortune 20 businesses joined in the past six months, while Fox Corporation, WPP, Live Nation and Ramp are customers.
Serval reports that its annual recurring revenue has doubled every quarter since the Series B. It has not disclosed the dollar figure, so the rate of growth is easier to see than the scale.
More capital, more automation engineers
The company plans to hire more than 500 people over the next year. Over 100 will be automation engineers in a new professional services arm called ProServal, working alongside enterprises to identify and rebuild manual processes. Roughly half are expected to be recent graduates trained through a four-week program.
That's the practical test behind the $3 billion valuation: can Serval turn people who understand a process into people who can automate it, while convincing enterprises to replace software they already rely on?
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