Serval raises $150 million at $3 billion valuation

AI · First reported 29 Oct, 12:02 · Updated 13:15

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Serval secured a Sequoia-led $150 million funding round, valuing the workplace-automation company at $3 billion. It plans to expand its Catalyst product, while its CEO described controls for limiting AI agents’ access and actions.

Serval raised $150 million in a Sequoia-led round at a $3 billion valuation, triple its $1 billion valuation from December. (79168fe3-26f6-4efe-95f9-5f7aff836499; 2cb9f905-22e5-4233-be45-fee2df2ee65a)
The company develops AI agents for workplace processes, initially focusing on IT operations, and says the new funding will support expansion of its Catalyst workflow product. (79168fe3-26f6-4efe-95f9-5f7aff836499; 2cb9f905-22e5-4233-be45-fee2df2ee65a)
CEO Jake Stauch said Lucid Motors moved from ServiceNow to Serval in 45 days; he also said IT and security teams control permissions and approvals, with human approval generally retained for sensitive actions. (79168fe3-26f6-4efe-95f9-5f7aff836499; 2cb9f905-22e5-4233-be45-fee2df2ee65a)

Summary written by Lux AI from 2 articles

Key facts

Funding round: $150 million, led by Sequoia (79168fe3-26f6-4efe-95f9-5f7aff836499)
Valuation: $3 billion, up from $1 billion in December (2cb9f905-22e5-4233-be45-fee2df2ee65a)
Total raised: $277 million to date (79168fe3-26f6-4efe-95f9-5f7aff836499)
Product: Catalyst, designed to help companies build and run automated workflows (2cb9f905-22e5-4233-be45-fee2df2ee65a)
Reported migration: Stauch said Lucid Motors migrated from ServiceNow to Serval in 45 days (79168fe3-26f6-4efe-95f9-5f7aff836499)