Serval triples valuation to $3 billion with AI workflow automation

Serval, an enterprise automation company that develops AI agents to automate business processes and replace traditional software, has raised $150 million in a funding round led by Sequoia, raising its valuation to $3 billion.

San Francisco-based Serval's valuation, which was $1 billion in December, has tripled with this round. Having raised a total of $277 million in funding to date, the company focuses on IT operations such as employee access management, troubleshooting, and the management of software and hardware assets. Jake Stauch, co-founder and CEO of the company, stated that the platform is not an AI layer added on top of existing systems, but a real alternative that can replace platforms like ServiceNow. Stauch noted that electric vehicle manufacturer Lucid Motors transitioned from ServiceNow to Serval within 45 days.