Serval Raises $150 Million at $3 Billion, and Part of the Money Pays for Humans to Build Its AI Automations
IT-automation startup Serval raised a $150 million Series C led by Sequoia at a $3 billion valuation, triple its December price, Reuters reports. CEO Jake Stauch pitches it as a replacement for platforms like ServiceNow. Serval is also hiring more than 100 automation engineers for a services unit, ProServal, that builds automations inside customers. Revenue is undisclosed; growth figures are the company's own.
Serval's raise says as much about how enterprise AI gets deployed as about how much investors will pay for it: a company selling AI agents that automate IT work is also hiring a small army of engineers to set those agents up. Serval raised a $150 million Series C led by Sequoia at a $3 billion valuation, Reuters reported on October 29, triple the $1 billion valuation of its December round.
The round#
The new money brings Serval's total funding to $277 million, according to Reuters. SiliconANGLE reports that Conviction and Headline joined as new investors, alongside returning backers Redpoint, General Catalyst, First Round, Evantic and Elad Gil. Sequoia also led the $75 million Series B in December, and Redpoint led a $47 million Series A in October 2025, SiliconANGLE reports.
Chief executive Jake Stauch told Reuters that Serval is a "true alternative replacement for platforms like ServiceNow", and said Lucid migrated to Serval in 45 days. ServiceNow, meanwhile, is putting its own workflows inside ChatGPT.
The services bet#
Serval, founded in 2024, sells Catalyst, an automation agent it launched in August, and is expanding it beyond IT, according to SiliconANGLE. Its new ProServal unit is hiring more than 100 automation engineers, about half of them recent graduates who go through four weeks of training, to work with customers on building automations, SiliconANGLE reports. The company says it plans more than 500 hires, has grown headcount tenfold and has offices in New York, London and Austin.
Serval says it has two Fortune 20 customers and counts Fox, WPP and Live Nation as customers. It does not disclose annual recurring revenue; the company says it has doubled every quarter since December.
Limits#
- Revenue, customer counts and growth rates are Serval's own and were not independently checked.
- Serval's press release on Business Wire did not load for Times of AI; round details are from Reuters, as published by CNA, and SiliconANGLE.
- "Replacement for ServiceNow" is the CEO's pitch; Lucid is the only migration named.
Sources#
- Reuters via CNA: Serval triples valuation to $3 billion as businesses adopt AI workflow automation (October 29, 2026)
- SiliconANGLE: Serval raises $150M at $3B valuation to bring its automation agents beyond IT (October 29, 2026)
- Business Wire: Serval Raises $150M Series C at $3B Valuation Led by Sequoia (October 29, 2026)