Serval Raises a 150 Million Dollar Series C at a 3 Billion Dollar Valuation, Led by Sequoia, to Take On Legacy IT Service Platforms
We raised a $150M Series C at a $3B valuation, led by @sequoia. Our third round in 12 months, bringing our total funding to $277M. Our team has grown 10x in the last 12 months. We now serve Fox Corporation, WPP, Live Nation, Lucid Motors, and Ramp, and many of them are fully replacing legacy platforms with @getserval. AI coding tools have transformed how engineers work. Serval brings that same power to every team, so anyone can build governed automations across the systems they already use. We’re hiring 500+ people over the next year and expanding in San Francisco, NYC, London, Austin, and beyond. If you’re down to take on legacy enterprise systems and transform how teams work, my cofounder @AlexAtServal and I would love to meet you. It’s Serval now.
Context
Investors are betting that AI agents can replace established enterprise service software such as ServiceNow, and Serval tripled its valuation in under a year on that bet.
Serval is a San Francisco startup that sells AI native enterprise service management, the software companies use to handle employee requests such as IT help, access and approvals. Its agents build automations from a company's existing procedures and then resolve requests against them. It competes with large incumbents such as ServiceNow. Sequoia also led Serval's 75 million dollar Series B in December 2025, which valued it at 1 billion dollars.
Deep dive
Serval said on Thursday that it raised a 150 million dollar Series C led by Sequoia at a 3 billion dollar valuation. Chief executive Jake Stauch wrote that it is the company's third round in 12 months and brings total funding to 277 million dollars.
According to the company's press release, existing investors Elad Gil, Evantic, First Round, General Catalyst and Redpoint returned, and Conviction and Headline joined as new investors. Sequoia also led the December 2025 Series B, which valued Serval at 1 billion dollars, so the valuation has roughly tripled in less than a year.
The pitch is that AI coding tools changed how engineers work, and Serval wants to give the same power to every other team. Its agents turn employee requests and standard procedures into governed automations across the systems a company already uses. Stauch said customers include Fox Corporation, WPP, Live Nation, Lucid Motors and Ramp, and that many are fully replacing legacy platforms. These customer and growth claims are self reported by the company.
Stauch also said the team grew tenfold in the past year and that Serval plans to hire more than 500 people over the next year across San Francisco, New York, London, Austin and other cities. Fortune reported that the company had about 20 employees in January and about 200 now.
What to expect next
The test is whether large companies actually switch off incumbent service management platforms in favor of agent based tools, and how incumbents like ServiceNow respond with their own agents and pricing. Watch Serval's hiring pace against its stated plan of 500 or more new roles, and whether more named enterprise customers confirm full replacements. Another round within a year would fit the pattern it has set so far.