Key facts
- Serval raised $150 million at a $3 billion valuation.
- The funding round triples Serval's previous $1 billion valuation from December.
- Serval develops AI agents to automate workplace processes, focusing on IT operations.
- Lucid Motors migrated from ServiceNow to Serval in 45 days.
Serval has secured $150 million in a funding round led by Sequoia Capital, valuing the company at $3 billion. This valuation represents a threefold increase from its December valuation of $1 billion. The San Francisco-based company develops AI agents designed to automate workplace processes, initially targeting IT operations such as employee access management and software asset handling. Serval aims to replace existing enterprise software platforms with its AI-driven solutions. Lucid Motors is cited as a customer that migrated from ServiceNow to Serval within 45 days. The company has raised a total of $277 million to date. Previous investors like Elad Gil, First Round, and General Catalyst also participated in the latest round.