Keep pulling the thread on Jake Stouck.
Serval raised a funding round from Sequoia at a $1 billion valuation.
Serval made an early strategic decision to build its automation platform with code as the source of truth, betting on the future improvement of AI code generation models.
Serval's security architecture is designed so that end-user-facing agents cannot directly access business systems, but can only trigger pre-approved, deterministic workflows built by IT teams.
Jake Stouck believes that in the AI era, there will be fewer but larger horizontal SaaS companies, as point solutions will struggle to exist as standalone businesses.
ServiceNow has a $14 billion Annual Recurring Revenue (ARR) run rate, with its revenue coming almost exclusively from non-AI products.
Over 90% of ServiceNow's revenue comes from customers with greater than $1 million in ACV, and over 60% comes from customers with over $5 million in ACV.
In the past year, Serval closed its first account with a Fortune 20 company.
Redpoint Ventures partnered with Serval at its Series A funding round.
Serval was recently voted number one in the mid-stage category of the Enterprise 30 list.
Serval's CEO, Jake Stouck, believes that building on top of a legacy platform like ServiceNow or Jira Service Management inherently limits a new product's quality and potential.
Serval's go-to-market strategy is based on the belief that it is easier to sell into a category with an existing budget rather than creating a new budget category for a product.
Serval's product strategy involves creating a mirror of a customer's existing system of record, which facilitates easier migration and makes the product less susceptible to displacement.