Three months ago, we announced our Series A and shared our ambition: to build the AI-native system of record that finally gives IT teams, and every operational team they support, the ability to automate work end to end with a single sentence.

That vision accelerated even faster than we anticipated. And today, we are proud to share that Serval has raised $75 million in Series B funding, led by Sequoia, bringing us to a $1 billion valuation. Redpoint, Meritech, First Round, General Catalyst, Evantic, Sound Ventures, Radical Ventures, and others also participated. In total, Serval has raised $127 million since August.

This round was pre-empted, and the reason was simple: the last three months have transformed Serval from an IT tool to an enterprise platform. We are being rapidly deployed beyond the IT department into HR, Finance, and Legal. And not only as an automation platform, but as an entire system of record displacing legacy platforms. While we always knew this was inevitable, we are humbled by the speed at which it is happening. 

What Happened in 90 Days

Since our Series A:

• Revenue grew 500%

• Headcount more than tripled

• Serval expanded from powering IT automation to becoming a horizontal automation engine adopted by HR, Finance, Legal, Security, and Engineering

• Multiple customers fully replaced incumbent ITSM tools and moved their system of record to Serval

Why Customers Are Moving Their Systems of Record to Serval

Automation should be faster to build once than to do manually even a single time - but legacy ITSM platforms never reached that bar. Their automation depended on brittle workflow builders, complex branching logic, and months of upkeep. 

Modern AI made a new approach possible.

Serval allows IT teams, and now HR, Finance, and Legal, to go from a single sentence to a published workflow. Teams can describe a process in natural language, such as onboarding a new hire, and Serval’s AI agent generates, tests, and publishes the full automation. That automation becomes a tool for human agents and Serval’s AI agents to run on demand. Workflows can be refined with natural language prompts, or at the code level for advanced users. These workflows are explainable, auditable, permissioned, and fully traceable, which is essential for enterprise adoption.

Because we built both the automation engine and the ITSM system of record, including ticketing, access management, asset management, and workflow orchestration, Serval gives companies a single place where operational work starts, runs, and is measured.

The result is that customers are automating more than 50 percent of IT tickets, resolving help desk requests, provisioning access, onboarding and offboarding employees, and running compliance and reporting workflows automatically.

Beyond IT 

Once teams began automating IT processes, they discovered they could transform work across the company using the same approach.

HR

• Fully automated employee lifecycle changes

• Automated benefits updates, PTO management, and HRIS writes

Finance

• Automatic fulfillment of virtual card requests and spend limit changes

• End-to-end procurement workflows rebuilt inside Serval, replacing legacy procurement tools

Legal

• NDAs and contract workflows launched and completed directly from Slack

This pattern repeated across customer after customer. AI automation began in IT, then expanded horizontally as teams realized they no longer needed siloed workflow tools. They could build what they wanted instantly inside Serval.

Sequoia noted that the last time they saw customer feedback this strong, and a system of record enabling horizontal enterprise automation, was sixteen years ago when they partnered with ServiceNow. That parallel carries real weight.

Why Sequoia Pre-Empted the Round

When Sequoia published why they invested, they highlighted three primary drivers.

1. The Pain Is Real and Universal

IT is the bottleneck for nearly every company initiative. When IT slows down, the entire organization slows down. Previous tools never empowered IT to automate the work that blocks them.

Serval solves this bottleneck at its foundation.

2. The Product Delivers What Legacy ITSM Could Not

Customers consistently describe Serval as powerful, simple, trustworthy, and transformative. Automation percentages grow weekly, employee satisfaction rises, and IT teams finally gain the bandwidth to pursue high-impact projects.

3. The Team and Talent Density

References from managers, peers, and early customers were consistently strong. What stood out was the pattern: top talent across engineering and go-to-market is choosing to join Serval. The concentration of talent and momentum around the team is one of Sequoia’s strongest predictive indicators.

Their conviction reflects what we see every day. Customers are not just adopting Serval. They are betting core operations on it.

Where We Go From Here

This raise gives us the resources to build the next era of enterprise service management.

• Accelerated hiring across engineering and go-to-market 

• Expanded AI agents capable of handling increasingly complex enterprise workflows

• Major new ITSM and asset management capabilities designed for large enterprises

• Deeper automation across HR, Finance, Legal, Security, and Engineering

We are only getting started.