Serval raises $150 million in Series C round to expand AI-powered enterprise automation platform

San Francisco-based startup Collective has raised $100 million to develop its financial services designed for individual entrepreneurs. The platform integrates various business functions, including accounting, payroll, tax reporting, and other services.

The funding includes a $40 million Series B round, as well as $60 million from General Catalyst's Customer Value Fund. General Catalyst, QED Investors, and Gradient Ventures led the equity round; Intuit Ventures, FT Partners, and SemperVirens also participated.

Collective's founder is Hooman Radfar, who learned about the financial benefits of business tax planning through his family. Reports indicate that his father's business structure helped him save significantly more on self-employment taxes than his mother's.

The $60 million comes from General Catalyst's Customer Value Fund. Unlike traditional equity financing, this arrangement supports client acquisition through a revenue-based repayment model. Thus, the total funding package reached $100 million.

The company has not disclosed its current valuation or the specific repayment terms for the customer acquisition mechanism. General Catalyst has used similar mechanisms to support other companies in the financial and business software sectors, but the specific terms of the Collective agreement have not been made public.

A separate $40 million Series B round provides traditional equity financing for broader company expansion. Collectively, these funds support both product development and customer base growth. General Catalyst partner Pranav Singhvi noted that small businesses represent a significant opportunity and expects AI adoption to accelerate growth in this market.

Previously, Collective raised $8.65 million in a seed round in 2020, followed by $20 million in a Series A round in 2021, and $50 million in July 2023. The market potential is assessed as substantial.

Collective serves individual entrepreneurs, independent consultants, and freelancers. The company's comprehensive membership provides business registration, bookkeeping, invoicing, payroll, and tax filing. Collective members are also offered health and business insurance.

In July 2026, the company launched its Insurance Center in partnership with Coverdash and Solo Health. In April 2026, Collective acquired the AI bookkeeping startup Open Ledger. The new funding will help expand these offerings into the banking sector and add additional insurance products.

Collective reports 127% year-over-year business growth and cumulative tax savings of $350 million for its members. According to the company, its most profitable clients save up to $40,000 annually. However, the company has not disclosed revenue or customer numbers, so these figures remain metrics provided by the company itself. The company estimates that over 30 million businesses in the United States have no employees, and AI tools can help a larger number of independent founders manage complex financial operations without hiring specialized teams.

Collective faces competition from financial platforms serving independent workers and small businesses, notably Lettuce Financial. The market has also experienced turbulence, including the sudden closure of Bench in December 2024. Other AI bookkeeping startups target audit firms and corporate finance teams, which differs from Collective's approach focused on the needs of individual entrepreneurs. Collective's strategy is to automate more workflows within a single integrated platform, potentially reducing the need for separate tools for accounting, taxation, and insurance. Radfar believes that AI can enhance the efficiency of independent founders, and the next phase of the company will focus on testing its integrated financial platform's ability to deliver on this promise at scale.

Mueon Corporation has successfully raised $65 million in a Series A funding round to develop its modular computing platform. The round was led by Maverick Silicon, with participation from Intel Capital and other investors.

Chief Executive Officer and co-founder Wilfred Gomes stated that the funding will enable the company to bring integrated computing and memory systems to market. Additional investors included Geodesic Alliances Fund, Oregon Venture Fund, M-Ventures, Wellington Capital, IQT, and Defined.

As a result, Mueon's total capital raised now exceeds $80 million. Previously, the company secured $15.5 million in seed funding in 2025.

Mueon develops semiconductor systems designed for high-performance computing and artificial intelligence. The company's technology aims to meet the growing infrastructure needs of data centers. The new funds will be used to expand engineering and operations teams.

The financing will also help advance the Cubelets technology from a platform development stage to a broader validation system. The company plans to prepare this technology for production while deepening customer engagement. Gomes added that Mueon's architecture is designed to overcome existing rack-level limitations.

Mueon's core technology, known as Cubelets, consists of modular building blocks for three-dimensional computing and memory. This architecture integrates compute power, memory, interconnects, power delivery, and thermal management. Unlike traditional data center systems that treat these components as separate design tasks, Mueon designs them as parts of a unified system.

This approach is intended to reduce data transmission distances and lower energy consumption. The company aims to achieve a tenfold improvement in energy efficiency and cost within a single rack. Furthermore, the system architecture is designed to scale to megawatt-level density if required by applications, although these figures are company goals and have not yet undergone independent verification.

Key aspects of the work include silicon architecture and design development, advanced integration, and software orchestration and ecosystem validation. These elements cover hardware architecture, thermal design, power optimization, and electrical parameters, as well as compatibility definition with existing AI frameworks.

The investment community also gained representation on Mueon's board of directors. Manish Muthal, Senior Managing Director at Maverick Silicon, will join the board. Srini Ananth, Managing Director at Intel Capital, will also serve as a director. Both investors emphasized the company's systemic approach to data center design.

Industry partners have also shown interest in the platform's potential. d-Matrix sees opportunities in combining modular infrastructure with in-memory computing. Ampere Computing, now part of SoftBank, is also collaborating with Mueon, focusing on mitigating technological risks as the platform moves toward production. Mueon is also working with technology and manufacturing partners.

The increasing demand for AI workloads continues to strain the power and cooling capacity of data centers. Operators require infrastructure capable of scaling with expanding workloads without proportionally increasing overhead. Mueon's methodology seeks to solve this problem through modular system integration.

The next phase of funding will focus on growing engineering capabilities, engagement, and production readiness. It is necessary to demonstrate that Cubelets can achieve the expected efficiency gains at scale. Successful validation could help establish Mueon's architecture as an alternative for future AI infrastructure.

North.cloud has successfully raised $60 million in a Series B funding round. These funds will be used to develop the company's financial operating system, which covers cloud services, artificial intelligence, and data handling.

Investors participating in this round include Peak Span Capital, Liquidity Ventures, Companyon Ventures, Alpaca, Uncommon Denominator, Gaingels, and Mana Ventures. The secured capital will allow for increased investment in product development, as well as ensuring a higher degree of automation and adding new integrations.

North enables enterprises to reduce infrastructure costs across all leading cloud service providers and modern data platforms, including Microsoft Azure, Google Cloud, and AWS. The company aims to replace fragmented processes related to various pricing models, usage requirements, and reporting tools inherent in each system (whether it is cloud infrastructure, a data model, or a service).

Thanks to the North platform, clients have saved over $400 million against total managed cloud spending, which approaches two billion dollars. Among the company's clients are AssemblyAI, Atlan, Tines, SnapLogic, Emplifi, and Imply. The platform addresses a growing problem for finance and engineering departments.

Traditionally, teams often use spreadsheets and separate dashboards to understand infrastructure costs, which consumes significant time without automatically eliminating costly inefficiencies. North combines cost analytics with automated optimization, helping businesses identify waste, manage cloud commitments, and increase computing value. This approach provides finance and engineering teams with a unified view of infrastructure economics.

The latest funding followed the release of North v3, which expanded support to Microsoft Azure, thus completing support for three major hyperscalers. Furthermore, native integrations with OpenAI, Anthropic, and Snowflake were implemented, and the Autobot automatic commitment scaling mechanism was enhanced.

Artificial intelligence is creating new challenges in business financial management. The increasing use of models adds an extra layer of complexity to existing cloud service and data expenditures. North is expanding its platform to help companies manage these interconnected costs.

TokenFlow's offering integrates model usage, attribution, budgeting, and financial control into a single system. Businesses can use these features alongside existing cloud infrastructure management, reflecting the growing overlap between AI and traditional infrastructure costs.

North believes that effective cost management requires more than just dashboards for companies. Automated systems can help teams detect changes, improve resource allocation, and leverage optimization capabilities, which can reduce manual workload as AI adoption accelerates.

AssemblyAI reported an effective savings rate of about 50% through its work with North. The company noted that its coverage expanded in parallel with infrastructure growth, allowing the team to focus on customer-centric development.

North plans to reinvest the Series B funds into increasing the number of integrations and strengthening autonomous optimization. Funds will also be invested in additional AI cost management tools and new personnel hiring. These investments will help North realize its vision of fully automating the infrastructure cost lifecycle.

The company demonstrates a customer retention rate of 98.8% and reports over $400 million saved by its clients. North's current clientele includes several large technology companies, and the company believes its results can be leveraged to target other cost categories. As AI plays an increasingly vital role in software development, infrastructure costs are becoming less separate from the product and the business it supports. North is building a platform designed to help such enterprises manage these expenses without stifling innovation.