The AI workflow automation startup has tripled its valuation since December as it pushes beyond IT into HR, finance, security and legal
Serval has raised $150 million in a Series C round led by Sequoia, setting the San Francisco startup’s post-money valuation at $3 billion.
The company announced the round on October 29, 2026. It is Serval’s third raise in roughly a year. The new money brings Serval’s total funding to $277 million.
A valuation curve that looks like a ski jump
Serval’s valuation stood at $232 million in August 2025. By December 2025, it had crossed $1 billion. Now it sits at $3 billion.
Sequoia led the Series C. Existing backers Elad Gil and General Catalyst returned, while Conviction and Headline joined as new investors.
Quick math on the earlier rounds: Serval had raised $127 million before this one. The Series C alone is larger than everything that came before it combined.
Serval’s annual recurring revenue has doubled every quarter since its Series B, according to the company.
What Serval actually sells
The company’s core product is Catalyst, an automation agent platform. It started out handling IT requests: password resets, access approvals, software provisioning and the rest of the help desk queue.
The pitch is that employees can describe a workflow in plain natural language. Catalyst then builds the automation and deploys it, no ticketing consultant required.
Serval is not shy about naming who it wants to replace. The company markets its AI agents as an alternative to legacy systems such as ServiceNow, the incumbent in enterprise IT service management.
Customers reportedly see more than 50% of their IT tickets automated.
The client roster includes Lucid Motors, Fox Corporation, WPP and Live Nation.
On security, Serval separates agent types that handle workflows from those that handle permissions control.
Where the $150 million goes
The fresh capital is earmarked for scaling Catalyst beyond IT. Serval is expanding the platform into HR, finance, security and legal services.
Serval is also launching a professional services unit called ProServal. The company aims for the unit to add more than 500 employees over the next year.
The hiring push builds on an already steep curve. Serval grew its headcount tenfold over the past year and has invested heavily in automation engineering to keep up with demand.
