Serval raises $150M Series C at $3B valuation for AI employee support agents

Serval builds AI agents that automate employee support, starting with IT tasks such as access management and expanding into HR, finance, security and legal teams. Existing investors Elad Gil, Evantic, First Round, General Catalyst and Redpoint took part, and Conviction and Headline joined as new backers. The company plans to hire more than 500 people over the next 12 months, including over 100 engineers placed with customers. The company says its annual recurring revenue has doubled every quarter since its Series B, but it has not published a dollar figure. Customers named include Fox Corporation, WPP, Live Nation and Ramp, and two Fortune 20 companies signed within the past six months. The valuation has tripled since December, according to the report. For founders selling into enterprises, Serval's pitch is direct replacement of ServiceNow workflows, and its customers still generally want a human to approve sensitive actions such as password resets. Builders should weigh how much autonomy buyers will grant before designing agents that act without review.