Serval Raises $150M to Challenge ServiceNow

Serval just snagged $150 million at a $3 billion valuation to take on ServiceNow. The cash marks its third round in twelve months, pushing total funding to $277 million. Sequoia led the Series C and had also led the $75 million Series B in December that valued the startup at $1 billion. Serval grew from about twenty staff in January to roughly two hundred today, aiming for seven hundred by year-end. Its AI-driven Catalyst agent builds and tests workflow automations before publishing them, a model the company says doubles ARR quarterly. Clients include WPP and two unnamed Fortune 20 firms, though Serval won't reveal the names. ServiceNow's market cap slipped to about $150 billion from a $230 billion peak after its latest earnings miss. In response, ServiceNow launched Flow, a $2-per-conversation AI service desk that promises day-long deployment without a contract. But Serval's CEO Jake Stauch says the real fight is about trusted data and governance, not just flashy demos. "This delusional plan we had two years ago is actually starting to come to fruition," he told Fortune.