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Enterprise service management startup Serval Inc. announced it has raised $150 million in new funding at a $3 billion valuation, led by Sequoia Capital, bringing its total funding to $277 million. The funds will be used to expand automated agents from IT into departments such as HR, finance and legal, and to invest in Catalyst, launched in August—an agent that scans tickets to identify repetitive tasks and drafts automation workflows, which go live after administrator review. Serval is also forming a ProServal professional services team and plans to hire more than 100 automation engineers over the next 12 months to work on-site with major customers. Its customers include Fox Corp., WPP and Live Nation, and it sees ServiceNow as its main competitor. Separately, reports said Serval stated that a customer completed a replacement of ServiceNow within 45 days.
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Serval says it replaced ServiceNow in 45 daysDevelopments
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- Source:SiliconANGLE
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Oct 30
Rohan Paul
Serval says it replaced ServiceNow in 45 days
Serval says a customer completed the replacement of ServiceNow within 45 days. Its Catalyst uses models to write workflows, then runs them as code, ensuring the same input follows the same path. Serval just closed a $150 million Series C round led by Sequoia at a $3 billion valuation.
Oct 29
SiliconANGLE
Serval raises $150 million at a $3 billion valuation to push automation agents beyond IT
Enterprise service management startup Serval announced it has completed a new $150 million funding round at a $3 billion valuation, aimed at expanding automation agents from IT into departments such as HR, finance and legal. The funds will also go toward Catalyst, launched in August, an agent that scans tickets to identify repetitive tasks and drafts automation workflows, which go live after administrator review; at the same time, Serval is building a ProServal professional services team and plans to hire more than 100 automation engineers over the next 12 months to work on-site with major customers. The round was led by Sequoia Capital, bringing Serval's total funding to $277 million; its customers include Fox Corp., WPP and Live Nation, and it sees ServiceNow as its main competitor.
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