Serval has secured $75 million in Series B funding led by Sequoia Capital, bringing the company’s valuation to $1 billion and marking a significant milestone in its evolution from an IT automation tool to a horizontal enterprise platform. The latest funding round also included participation from Redpoint, Meritech, First Round, General Catalyst, Evantic, Sound Ventures, Radical Ventures, and others. In total, Serval has raised $127 million since August.
The investment was preempted following swift momentum over the last three months. During that time, Serval grew revenue by 500%, more than tripled its headcount, and expanded from powering IT automation to serving departments such as HR, Finance, Legal, Security, and Engineering. Multiple customers entirely replaced incumbent IT service management systems with Serval, making it their primary system of record for operational work.
The company’s growth stems from its approach to AI native workflow automation. Teams can describe a process in natural language, and Serval’s agent automatically generates, tests, and publishes the end-to-end workflow. The automations support both human and AI agents, and they are explainable, auditable, traceable, and permissioned, meeting enterprise requirements. Customers are reporting that more than fifty percent of IT tickets are now automated, including access provisioning, onboarding, offboarding, compliance tasks, and routine help desk requests.
As customers adopted Serval for IT processes, they began broadening its use across other functions. HR teams are automating employee lifecycle updates and HRIS workflows. Finance teams are handling virtual card requests, spend limit changes, and procurement flows within Serval. Legal teams are launching and completing NDA and contract workflows directly from Slack. These expansions demonstrate a consistent pattern in which teams replace siloed workflow tools with Serval’s single automation platform.
Sequoia cited several drivers behind its early conviction: the universal pain of IT bottlenecks, the strength and simplicity of Serval’s product compared to legacy ITSM providers, and the unusually high concentration of talent joining the company. The firm drew parallels to its investment in ServiceNow sixteen years ago, noting similar customer enthusiasm and platform potential.
With this new funding, Serval plans to accelerate hiring across engineering and go-to-market teams, build more advanced AI agents capable of handling increasingly sophisticated workflows, develop major new ITSM and asset management capabilities, and further expand automation across HR, Finance, Legal, Security, and Engineering. The company states that this marks only the beginning of its broader push into enterprise service management.
