Serval said it raised $150 million at a $3 billion valuation and plans to add more than 500 people over the next year as it expands its enterprise workflow software and services.
Sequoia led the Series C. Serval named Elad Gil, Evantic, First Round, General Catalyst and Redpoint as participating investors, alongside new investors Conviction and Headline. The company announced a $75 million Series B on Dec. 11, 2025, at a $1 billion valuation, making its latest stated valuation three times higher. Reuters reported that Serval has raised $277 million in total.
Forge separately lists a $2.73 billion post-money valuation for a $150 million Series C dated Oct. 20. That differs from Serval’s Oct. 29 announcement of a $3 billion valuation; the records do not explain the difference.
Serval describes Catalyst as software employees can use to create and run coded workflows across IT, security, human resources, finance and legal teams. Administrators manage safeguards that include guardrails, permission checks and approvals. Funding will support expansion of the product and services team. Catalyst had been generally available since Aug. 20, when Serval said more than 90% of its customers had adopted it as their starting point for automation since beta.
The company expects to add more than 500 people in the year after its announcement. It says ProServal, its professional services arm, will include more than 100 automation-engineer hires and help large businesses redesign processes.
Serval pitches Catalyst as a potential replacement for enterprise service-management platforms such as ServiceNow. The company says an unnamed automotive manufacturer switched from ServiceNow to Serval in 45 days. Reuters reported that the customer was Lucid Motors, citing Serval co-founder and CEO Jake Stauch. Stauch described the product to Reuters as “a true alternative replacement for platforms like ServiceNow.”
Serval says its annual recurring revenue has doubled each quarter since the Series B and that two Fortune 20 companies joined in the six months before the latest round. It did not disclose an annual recurring revenue figure.
