AI-powered IT support startup Serval has secured $75 million in a Series B round led by Sequoia, pushing its valuation to $1 billion just three months after its previous raise, the company said.
The new capital increases Serval’s total funding to $127 million. The San Francisco-based company held a valuation of $232 million in August, according to PitchBook data. The sharp rise in valuation over the past quarter highlights growing investor confidence in AI-driven platforms challenging incumbents such as ServiceNow and demonstrating strong market traction.
Serval stated that it has increased revenue by 500% since August, although it did not provide detailed figures. Moreover, previous backers, including Redpoint, Meritech, and General Catalyst, participated in the latest round.
Founded in 2024, Serval initially launched as an AI-powered tech support assistant designed to manage routine IT tasks for employees, including fixing computer issues and granting software access. Since then, it has expanded into human resources, legal, and finance functions.
With the fresh capital, Serval plans to accelerate hiring across its go-to-market and engineering teams. The company currently employs just under 30 people but expects to grow to more than 100 next year.
AI startups such as Perplexity and Together AI already rely on Serval’s platform to automate tasks like resolving help desk queries and onboarding employees. Additionally, Serval reported that its technology automates more than 50% of IT tickets for customers.
The company’s go-to-market strategy enables it to fully replace a customer’s existing systems or serve as an “AI layer” on top of legacy setups, an approach designed to accommodate clients tied to long-term contracts.
CEO Jake Stauch stated that Serval is building a comprehensive IT service management platform powered by AI-driven automation. “We’re seeing that thesis play out as customers rip and replace incumbent systems of record,” Stauch said.
Serval’s platform operates with a two-part AI system: an AI agent that interacts with employees to interpret support requests and a tool that lets administrators create complex automations by describing them in natural language—a process the CEO refers to as “vibe coding.”
This method generates code in the background, which provides more flexibility and capability than traditional drag-and-drop workflow tools. It also reinforces security, as the employee-facing AI can only activate automations pre-approved by administrators.
“When we heard customer feedback this strong was 16 years ago when we partnered with ServiceNow,” said Anas Biad, partner at Sequoia. “When we heard it again, we couldn’t help ourselves but just go and preempt.”
