ServiceNow to pay $2.85B for Moveworks' AI tools

ServiceNow and Moveworks will deliver a unified, end‑to‑end search and self‑service experience for all employee requestors across every workflow, according to ServiceNow. A majority of Moveworks’ current customer deployments already use ServiceNow in their environments to access enterprise AI, data, and workflows. ServiceNow said this acquisition will build upon the existing synergies to enable employee engagement with “more perceptive AI-based enterprise search,” find fast answers to requests, automate and complete everyday tasks, and increase productivity. Moveworks lists companies such as Hearst, Instacart, Palo Alto Networks, Siemens, Toyota, Unilever, and others among its customers.

“Moveworks’ talented team and elegant AI-first experience, combined with ServiceNow’s powerful AI-driven workflow automation will supercharge enterprise-wide AI adoption and deliver game-changing outcomes for employees and their customers,” Zavery added.

Founded in 2016, Moveworks’ founders recognized a need for an AI assistant that could understand natural, conversational language, according to its website. The company provides customers with AI assistants to deal with employee requests, from IT tickets to human resources requests and policy questions. Moveworks last raised $200 million in Series C venture funding in 2021, with investors Tiger Global and Alkeon Capital. The last round of funding brought the company’s total to $315 million.