Serval has raised a $150 million Series C led by Sequoia at a $3 billion valuation. The financing brings the enterprise-automation company’s disclosed total raised to $277 million, while the valuation represents the company’s implied value rather than new cash proceeds.
Elad Gil, Evantic, First Round, General Catalyst and Redpoint participated again, with Conviction and Headline joining as new investors. Serval says this is its third financing round in twelve months.
The company’s Catalyst agent translates business requirements into code-based workflows that run with administrator-managed permissions, checks and approvals. Serval is pitching the product as part of a broader enterprise system of record, rather than a thin AI layer placed on top of existing service-management software.
Serval says it intends to hire more than 500 people over the next year, including at least 100 automation engineers for a new professional-services group called ProServal. Those hiring figures are plans, not completed headcount additions.
The company reports rapid revenue growth and customer migrations from established platforms. Those commercial metrics are company claims and were not independently audited for this article.