Serval has closed a $150 million financing round led by Sequoia, valuing the enterprise automation startup at $3 billion, according to the company. That valuation is three times the $1 billion price tag Serval carried in December.
Based in San Francisco, Serval builds AI-driven agents that automate workplace processes, with an initial emphasis on IT operations such as managing employee access, troubleshooting, and overseeing software and hardware assets. The company has now raised $277 million in total.
Jake Stauch, co-founder and CEO of Serval, characterized the company’s technology as more than an incremental AI layer on top of existing systems of record. "It’s not an additional layer of AI spend on top of your existing system of record, it is a true alternative replacement for platforms like ServiceNow," he said.
Stauch provided a customer example to illustrate deployment speed and platform capabilities, saying electric vehicle manufacturer Lucid Motors migrated from ServiceNow to Serval in 45 days.
Serval said the fresh funding will be directed toward expanding its Catalyst product, which is positioned to help enterprises build and operate automated workflows at scale. Catalyst is intended to assist companies in creating end-to-end processes that replace manual steps traditionally handled in legacy service platforms.
On security and controls, Serval separates the AI agent used by administrators to construct tools from the agent employees use to access pre-approved workflows. Permissions and approvals, the company said, remain under the authority of IT and security teams. Stauch noted that, in practice, customers generally prefer human sign-off for sensitive activities such as password resets, granting application access and making changes to sensitive systems.
Previous investors who participated in the new round include Elad Gil, First Round and General Catalyst.
Serval’s rapid revaluation underscores investor appetite for startups that position AI agents as direct alternatives to incumbent enterprise software providers. The company’s focus on IT operations and asset management reflects its strategy of addressing repetitive, permissioned tasks where automated agents can replace manual workflows while keeping final approvals within IT or security teams.
The company’s total capital raised and the stated uses for the new proceeds are consistent with an effort to scale product capabilities and accelerate enterprise deployments.