Serval raises $150 million at $3 billion valuation led by Sequoia

Serval, a US-based startup building an AI-powered enterprise automation and service management platform, has raised $150 million in a Series C round led by Sequoia. The investment values the company at $3 billion.

Elad Gil, Evantic, First Round, General Catalyst, Redpoint, Conviction and Headline also took part in the round. Serval was founded only in 2024 by Jake Stauch and Alex McLeod.

AI agents for IT operations

Serval positions itself as an enterprise software company that lets businesses automate everyday processes with AI agents. Its focus is IT operations: managing employees' access permissions to systems, resolving technical problems, and tracking software and hardware assets. Because agents handle these tasks, companies no longer need to process many employee requests and technical issues by hand.

The company says its approach is aimed at replacing traditional enterprise platforms such as ServiceNow.

Catalyst and the focus on control

Serval will use the new funding to develop and expand Catalyst, its product that allows businesses to build and manage their own automated workflows.

Security and authorization are a stated priority. IT and security teams define what information the AI agents can access and which actions they can perform, and sensitive operations can require human approval before they go ahead.

The size of the round and the valuation, reached within about two years of founding, show how much investor interest is flowing toward AI agents in enterprise software. Serval is betting that controlled, permission-aware automation will be the deciding factor for IT teams weighing a move away from established service management tools.