San Francisco-based startup Serval raised $150 million in a Series C round led by Sequoia, bringing its post-money valuation to $3 billion. It is the company’s third raise in roughly a year, taking total funding to $277 million, while annual recurring revenue has reportedly doubled every quarter since its Series B. Serval’s Catalyst platform uses natural-language prompts to generate and deploy workflow automations, with customers reportedly automating more than 50% of their IT tickets. Its client roster includes Lucid Motors, Fox Corporation, WPP and Live Nation. The new capital will fund expansion into HR, finance, security and legal, as well as a professional services unit targeted to add more than 500 employees over the next year.
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