Serval Raises $150M Series C at $3B Valuation, Led by Sequoia

Serval, a San Francisco AI-agent startup, raised $150 million in a Series C round led by Sequoia at a $3 billion valuation. The company announced the round on Thursday, 29 October 2026, in a blog post and a press release on Business Wire. The Next Web and Unite.AI also reported the round that day, and both give the same $150 million figure and date. Serval says the round brings its total funding to $277 million.

The round size, lead and date are reported by both The Next Web and Unite.AI, and they match the company's announcement. The earlier valuation and the founders' titles are also reported by both outlets. Both outlets repeat the company's own announcement, so neither is independent confirmation of the figures.

How much did Serval raise and who invested?

Serval raised $150 million in its Series C at a $3 billion valuation, according to the company's release. The Next Web reports the same round size and valuation.

The round is Serval's third in 12 months. Business Wire says it follows a $75 million Series B in December 2025 and the company's Series A announcement in October 2025. The release names the investors who took part: existing backers Elad Gil, Evantic, First Round, General Catalyst and Redpoint, plus new investors Conviction and Headline. The Next Web and Unite.AI both report the same investor list and Sequoia as the lead.

• Round: Series C, $150 million (company announced)
• Valuation: $3 billion (company announced)
• Lead: Sequoia
• Existing investors: Elad Gil, Evantic, First Round, General Catalyst, Redpoint
• New investors: Conviction, Headline

What does Serval do?

Serval describes itself as an enterprise service management and automation platform, according to its Business Wire release. According to The Next Web, chief executive Jake Stauch told Reuters that Serval is a replacement for platforms like ServiceNow, not an extra layer of AI spend on top of an existing system of record. That positioning is the company's own claim.

Unite.AI adds a broader account of the mission. It says the co-founders, who authored the announcement, frame the company's aim as extending the building power that engineers have to every employee inside large enterprises. That is the company's own framing, repeated by a second outlet.

The sharpest claim comes from chief executive Jake Stauch. The Next Web quotes him telling Reuters: "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." The Next Web is the only outlet in this article that carries that wording, so it is quoted as reported there. No independent test, customer audit or third-party comparison of the claim appears in the reporting used here.

Who founded Serval?

According to The Next Web, Serval's co-founders are Jake Stauch, chief executive, and Alex McLeod, chief technology officer. Unite.AI gives the same titles, so two outlets report them.

How much has Serval raised in total?

Serval says the Series C brings its total funding to $277 million. The $150 million is one round, and the $277 million is the cumulative figure across all rounds, so the two should not be read as the same number. The company's release lists its earlier rounds.

The Series A amount is not stated in any source used here, so the table shows it as "Not stated" rather than estimating it. The cumulative $277 million is the company's own figure. The Next Web reports it too, saying Serval has raised $277m in total, so the number has two sources, one of them the release.

How has Serval's valuation changed since its last round?

The Next Web reports that Serval reached a $1 billion valuation in December, when it raised $75 million. The $3 billion Series C valuation is three times that figure, according to the same report. Unite.AI reports the same $1 billion valuation for the Series B, which it dates to 11 December 2025. The Business Wire release gives the Series C valuation but not the earlier one, so the tripling rests on reporting from both outlets rather than on a company statement.

How the sources compare

• Business Wire is the company's own release, dated 29 October 2026, and the only primary source used here. It covers the round size, valuation, lead, investors, total funding, earlier rounds and headquarters.
• The Next Web is a secondary outlet. It reports the round, the December 2025 valuation, the founders' titles and Stauch's remarks to Reuters. Its report was published at 5:45 pm UTC on 29 October 2026.
• Unite.AI is a secondary outlet dated 29 October 2026. It confirms the $150 million round, the $3 billion valuation, the Sequoia lead, the investor list, the founders' titles and the December 2025 Series B at a $1 billion valuation. It also describes the mission the co-founders set out in the announcement.

Where the sources agree, the article states the figure plainly. Where only one outlet reports a claim, the article says which outlet it comes from.

Why it matters

The round is notable for two reasons. The first is the valuation step from $1 billion to $3 billion. The second is the replacement claim against ServiceNow. Both trace back to the company, and the reporting used here does not test either one. Anyone weighing the claim should look for customer evidence before treating it as settled.

What's still unclear?

• The December valuation of $1 billion is reported by The Next Web and Unite.AI. It is not in the company's release as quoted in the coverage.
• Founder titles are reported by The Next Web and Unite.AI.
• Series A details are incomplete. The sources do not state the Series A amount.
• The ServiceNow claim is Serval's own. The reports do not include an independent test, customer audit or third-party comparison.
• Weakest point: the round figures trace back to the company's announcement. Unite.AI and The Next Web repeat them, and neither offers independent confirmation of the $3 billion valuation.