Serval triples valuation to $3 billion as businesses adopt AI workflow automation

By Harshita Mary Varghese Oct 29 (Reuters) Serval raised $150 million in a Sequoia-led round at a $3 billion valuation, as the enterprise automation company seeks to ​use AI agents to handle workplace tasks ‌and replace legacy software across large organizations. The round triples Serval s $1 billion valuation from December, highlighting investor interest in AI startups taking on established enterprise software providers such as ServiceNow and Workday. San ‌Francisco-based ​Serval, which has raised $277 million ⁠to date, develops AI ⁠agents that automate workplace processes, initially focusing on IT operations such as managing employee access, troubleshooting, and handling software and hardware assets. It s not an additional layer ​of AI spend on top of your existing system of record, it is a true alternative ⁠replacement for platforms like ServiceNow, Jake ⁠Stauch, co-founder and CEO of Serval, ​told Reuters. Stauch said electric vehicle maker Lucid Motors migrated from ​ServiceNo