Serval's value triples to $3 billion with AI that handles office tasks

Serval, a San Francisco startup that uses AI to handle office IT chores, raised $150 million at a $3 billion valuation. That is triple the $1 billion value it had in December. Sequoia, the investment firm, led the round. Serval has now raised $277 million in total.

What Serval does

Serval builds AI agents, which are programs that carry out tasks on their own. It started with IT work, such as managing who can access what, troubleshooting problems, and tracking company software and hardware. CEO Jake Stauch told Reuters it is a true replacement for platforms like ServiceNow, not an extra layer on top. He said electric vehicle maker Lucid Motors switched from ServiceNow to Serval in 45 days.

Safety and who is in charge

Stauch said Serval keeps two agents apart. One is for administrators who build tools. The other is for employees, who can only use approved workflows. IT and security teams control permissions and approvals. Customers still generally want a person to sign off on sensitive actions, including:

• Password resets
• Application access
• Changes to sensitive systems

What is not known yet

The story does not give pricing, customer counts or any independent test of how well the product works. Most claims come from the CEO. Earlier backers Elad Gil, First Round and General Catalyst also joined the round, and the money will expand a product called Catalyst, which helps companies build automated workflows.