Serval builds AI agents for large companies that want to automate internal service work rather than only track it in legacy tools. Employees in IT, security, HR, finance, and legal describe a workflow in plain language, and Catalyst, Serval's automation agent, turns that description into code that runs with admin-set permissions, approvals, and audit controls, with no engineering experience required. The San Francisco company was founded in 2024 by CEO Jake Stauch and CTO Alex McLeod. This round is meant to push that system past the IT help desk and further into a replacement for platforms such as ServiceNow. On October 29, 2026, Serval announced a $150 million Series C at a $3 billion valuation, led by Sequoia. It is the company's third round in 12 months and triples the $1 billion valuation from its Sequoia-led Series B in December 2025, bringing total funding to $277 million. Elad Gil, Evantic, First Round, General Catalyst, and Redpoint participated again, and Conviction and Headline joined as new investors. Serval plans to hire more than 500 people over the next year, including more than 100 automation engineers for ProServal, a professional services group that works inside customer teams on process redesign. Fox Corporation, WPP, Live Nation, and Ramp are already building workflows on Serval, and two Fortune 20 companies have come onboard in the last six months. Jake Stauch told Reuters that Lucid Motors migrated from ServiceNow to Serval in 45 days. Serval says annual recurring revenue has doubled every quarter since the Series B.