Serval, a San Francisco startup that builds AI agents for IT and employee support, has raised a $150 million Series C led by Sequoia at a $3 billion valuation. Coverage dates the announcement to October 29. Total funding now stands at $277 million, and the valuation is triple the $1 billion set by its $75 million Series B in December 2025.
The round
Existing investors Elad Gil, Evantic, First Round, General Catalyst and Redpoint took part, alongside new backers Conviction and Headline, according to the reports. The Next Web frames the company as an attempt to replace ServiceNow, the incumbent in IT service management, with agents rather than ticket queues.
What Serval sells
Serval’s pitch is automating help-desk and internal-support work, such as routine IT requests, that human staff usually handle through tickets. Its flagship product, Catalyst, is described as an automation agent that lets non-engineers build workflows. Earlier coverage of the company’s Series B named customers including Perplexity, Together AI, BILT and Verkada.
The company says its annual recurring revenue has doubled every quarter since the Series B. It has not disclosed revenue figures, so that claim cannot be checked.
Expansion plans
Serval is launching a services arm, ProServal, which the reports say will place more than 100 automation engineers inside customer organizations, and it plans to hire more than 500 people. The services model suggests that deploying agents in large enterprises still takes hands-on integration work, not only software licences.
Why it matters
The round adds to a run of large financings for agent companies aimed at replacing established enterprise workflow software. Serval competes in a crowded field that includes ServiceNow’s own AI features, and the reported growth and valuation come from the company and its investors rather than independent audits. Whether agent-first tools can displace entrenched platforms in large enterprises will depend on reliability and security in production, which funding announcements do not settle.