Serval, an AI-powered IT support startup, has secured $75 million in Series B funding, raising its valuation to $1 billion, led by Sequoia Capital.

Target Information

Serval is an innovative IT support startup that leverages artificial intelligence to transform the management of technical assistance within organizations. Founded in 2024 by Jake Stauch and Alex McLeod and headquartered in San Francisco, California, Serval's platform automates key IT support processes, incorporating ticketing, issue resolution, and proactive maintenance. By addressing the complexities and high operational costs typical of traditional IT support models, Serval enhances service delivery and improves the technical experience for employees in businesses of all sizes.

Recently, Serval secured $75 million in a Series B funding round, pushing its valuation to $1 billion. The funding round was spearheaded by Sequoia Capital, with contributions from other notable investors including Redpoint, Meritech, First Round, General Catalyst, and Evantic. Jake Stauch, the CEO and co-founder of Serval, remarked, "We built Serval from the ground up to offer a full enterprise IT Service Management (ITSM) with AI-powered automation as our core differentiator, a thesis our customers are validating by replacing their incumbent systems."

Industry Overview

The artificial intelligence sector in the United States has witnessed exponential growth, driven by burgeoning demand for improved operational efficiencies across various industries. AI applications are increasingly seen as vital tools for streamlini