AI startup Serval raises $150 million in bid to replace Santa Clara's ServiceNow
The San Francisco company, now valued at $3 billion, says it will hire more than 500 people in the next year.
Serval, a San Francisco startup that uses AI to automate office work, said Oct. 29 it raised $150 million in a round led by Sequoia Capital, a Menlo Park investment firm. The deal values Serval at $3 billion. It is Serval's third funding round in 12 months.
Serval's AI agent, called Catalyst, lets workers who don't know how to code describe a task in plain words and turn it into automated steps, the company said. Companies use it for IT help-desk requests, bringing on new employees and other routine work.
Serval says big companies are switching to it from ServiceNow, a Santa Clara company whose software many businesses use to run their IT departments. It said one carmaker made the switch in 45 days, and that its yearly revenue has doubled every quarter since its last funding round. It did not give dollar amounts.
Serval plans to hire more than 500 people over the next 12 months, the company said. That includes more than 100 automation engineers who will work inside customer companies, and about half of them will be recent college graduates.
Source: Serval company blog, Oct. 29, 2026 and Sequoia Capital announcement.