Serval raises $150M at $3B valuation in Sequoia-led round

The AI workflow automation startup has tripled its valuation since December as it pushes beyond IT into HR, finance, security and legal Serval has raised $150 million in a Series C round led by Sequoia, setting the San Francisco startup’s post-money valuation at $3 billion. The company announced the round on October 29, 2026. It is Serval’s third raise in roughly a year. The new money brings Serval’s total funding to $277 million. A valuation curve that looks like a ski jump Serval’s valuation stood at $232 million in August 2025. By December 2025, it had crossed $1 billion. Now it sits at $3 billion. Sequoia led the Series C. Existing backers Elad Gil and General Catalyst returned, while Conviction and Headline joined as new investors. Quick math on the earlier rounds: Serval had raised $127 million before this one. The Series C alone is larger than everything that came before it combined. Serval’s annual recurring revenue has doubled every quarter since its Series B, according to the company. What Serval actually sells The company’s core product is Catalyst, an automation agent platform. It started out handling IT requests: password resets, access approvals, software provisioning...