Serval, an AI-powered IT support startup, has raised $75 million in a Series B round led by Sequoia, lifting the company to a $1 billion valuation just three months after its prior financing. The round brings Serval’s total funding to $127 million, with existing investors Redpoint, Meritech, and General Catalyst also participating.
Founded in 2024 and led by CEO Jake Stauch, the San Francisco–based company delivers AI automation for enterprise IT support, handling tasks such as troubleshooting, access provisioning, and employee onboarding. Serval has expanded its platform into HR, legal, and finance workflows and reports 500% revenue growth since August. Its technology now automates more than half of IT support tickets for customers including Perplexity and Together AI. The new capital will fund rapid hiring and product expansion as Serval scales its AI-native service management platform.
