We raised $150M to make everyone a builder.

Engineers got super intelligence first.

AI coding tools have transformed the way engineering teams work. They’re building faster, shipping more, and tackling the problems that used to be out of reach.

We’re still waiting for AI to transform the rest of the enterprise.

Today, we're announcing a $150 million Series C at a $3 billion valuation, led by Sequoia, to change that.

It's our third round in 12 months, with participation from Elad Gil, Evantic, First Round, General Catalyst, and Redpoint, plus new investors Conviction and Headline.

The mission is simple: make work more fun and more fulfilling, by giving the same building power that engineers have to everyone inside the biggest, messiest enterprises in the world.

Coding agents for enterprise automation

All departments have workflows they want to automate, from service desk requests to complete onboarding and offboarding journeys.

Historically, building these automations was a complex operation involving drag-and-drop workflow builders, custom scripts, and a menagerie of IT engineers and third-party consultants coordinating with subject matter experts over weeks, months, or years to arrive at a solution that almost immediately needed revisiting.

Serval allows every employee to build these workflows in code, using AI agents to translate business requirements into deterministic tools that can be run securely and within strict enterprise controls.

We call our automation agent Catalyst. With it, employees across IT, Security, HR, Finance, Legal, and beyond build and run code-based workflows with no engineering experience required.

They bring the expertise, and Catalyst turns it into durable automations with guardrails, permission checks, and approvals all managed by admins.

This is where the future of work is headed.

And we’re building it inside the modern enterprise system of record.

Displacing ServiceNow

For all the talk of a “SaaSpocalypse,” systems like Workday, Salesforce, and SAP remain deeply embedded in the world’s largest enterprises.

But these same organizations are replacing ServiceNow with Serval.

Serval combines a complete system of record with the AI capabilities to transform how work gets done. Catalyst is embedded in Serval’s full enterprise service management platform, so teams can build and run automations in the same place they track requests, manage assets, and orchestrate changes and approvals. And because we fully replace the system of record, we’re helping companies consolidate spend and reduce costs, rather than adding more line items to the budget.

We also make migration easy. One automotive manufacturer replaced ServiceNow with Serval in just 45 days. The transition was company wide, spanning IT service management, the configuration management database, hardware and software asset management, and a long tail of workflows across departments.

We’re seeing an inflection in the market, with our annual recurring revenue doubling every quarter since our Series B. Two of the Fortune 20 onboarded in just the last six months, and companies like Fox Corporation, WPP, Live Nation, and Ramp are now building with Serval.

How we're putting $150M to work

We are hiring over 500 people in the next 12 months. 100+ of those will be Automation Engineers dedicated to ProServal, our new professional services arm. They will work alongside enterprise teams to identify opportunities for automation, redesign existing processes, and eliminate repetitive work.

Automation Engineers are the big-picture problem-solvers who sit inside enterprise teams, spot where essential processes break down, and use AI to redesign those workflows from the ground up. Roughly half of them will be recent college graduates and go through a four-week Serval training program.

The generation entering the workforce grew up with AI. We're putting them inside some of the world's most complex organizations, shoulder to shoulder with the people who know how those businesses actually run.

What’s next

There’s still so much to build: bringing new AI capabilities to the enterprise, building a modern system of record, and forging deeper relationships with customers to shepherd their AI transformations. This round of funding allows us to pursue our mission with unmatched talent and urgency.

Come build with us.

It’s Serval now.

Jake and Alex