Serval, the AI-native IT service management (ITSM) platform, today announced it has raised $75 million in Series B funding, attaining a $1 billion valuation. The round was led by Sequoia, with participation from Redpoint, Meritech, First Round, General Catalyst, Evantic, and others. This brings Serval’s total funding to $127 million, just three months after its $47 million Series A this past August.
Serval was founded in 2024 to deploy AI agents for IT teams and has expanded into a full system of record for enterprise service management, using AI to make automations effortless.
Companies like Mercor, Perplexity, Clay, and Together AI rely on Serval's platform to automate over 50% of IT tickets, resolving help desk requests, provisioning access to applications, on/offboarding employees, and more. Usage has skyrocketed as other teams adopt Serval’s workflow automation technology. For example:
- HR: Companies are using Serval to fully automate employee lifecycle changes, automate PTO requests, make benefits changes, and update employee data in HRIS systems.
- Finance: Employees can request virtual credit cards and limit increases that are automatically fulfilled. Some are overhauling their procurement software entirely, now running all vendor intake and approval through Serval workflows.
- Legal: With Serval, employees can kick off NDAs and other contract workflows straight from Slack.
“We built Serval from the ground up to be a full enterprise ITSM with frictionless, AI-powered automation as our core differentiator. We’re seeing that thesis play out as customers rip and replace incumbent systems of record,” says Jake Stauch, CEO of Serval.
“Empowering IT teams is one of the most elegant and scalable ways to deliver AI enterprise automation. We were impressed hearing from Serval’s customers how the product delivers the best system of automation through AI agents for IT, while already becoming their ITSM system of record and enabling automation across departments beyond IT,” said Anas Biad, partner at Sequoia. “The last time we heard customer feedback this strong — and the thesis of ‘IT system of record with horizontal automation’ — was sixteen years ago when we partnered with ServiceNow. That’s why we pre-empted Serval’s Series B, and why we’re excited to partner with Jake, Alex and the team on the next era of AI-powered enterprise automation.”
Since their Series A, which closed this past August, Serval has grown revenue 500% and more than tripled its headcount. With the new funding, the company is dramatically accelerating hiring across GTM and engineering, with key product launches planned for 2026 aimed at large enterprise adoption.
For more information, please visit www.serval.com.
About Serval
Serval is the platform for modern IT teams, combining AI-native ITSM, access management, and workflow automation in a single system. By deploying AI agents that resolve requests in seconds, Serval frees employees from the help desk and gets them back to the work they enjoy. Founded in 2024, the company is backed by Sequoia, Redpoint Ventures, First Round, General Catalyst, Box Group, Bessemer Venture Partners, Chemistry, ALT Capital and others, and is trusted by forward-thinking organizations including Mercor, Clay, Perplexity, Together AI, BILT, and Verkada. For more information, visit www.serval.com.
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