Moveworks
Moveworks, founded in 2016 by Bhavin Shah, Vaibhav Nivargi, Varun Singh, and Jiang Chen, built an AI assistant platform targeting enterprise workforce productivity.
Profile
AI assistant platform that resolves workplace requests and automates tasks across enterprise systems through conversational AI.
Moveworks, founded in 2016 by Bhavin Shah, Vaibhav Nivargi, Varun Singh, and Jiang Chen, built an AI assistant platform targeting enterprise workforce productivity. The company emerged from stealth in April 2019 with a $30 million Series A from Lightspeed Venture Partners and Bain Capital, followed by a $75 million Series B in late 2019 and a $200 million Series C in 2021 that valued the company at $2.1 billion. By 2024, Moveworks had surpassed $100 million in annual recurring revenue, serving over 350 enterprises including 10% of the Fortune 500.
The platform unified enterprise search across 50+ business systems with an AI assistant capable of deploying 10,000+ agents across IT, HR, finance, and facilities workflows. Key customers included Toyota, Unilever, Instacart, CVS Health, Marriott, GitHub, and Siemens. In March 2025, ServiceNow announced a $2.85 billion acquisition, which closed in December 2025 to create ServiceNow Otto, an integrated agentic AI experience.
The deal marked a 20x+ ARR multiple and represented a strategic exit for early investors. Prior to acquisition, Moveworks faced internal challenges including layoffs, benefit cuts, and reported morale issues in late 2024. The company achieved recognition as #2 on Fast Company's 2025 Most Innovative Companies in Enterprise and as a Challenger in the 2025 Gartner Magic Quadrant for AI in IT Service Management.
The acquisition itself underwent U.S. Department of Justice antitrust review beginning in June 2025, though ultimately completed despite regulatory scrutiny.
Who buys this
- IT and help desk operations seeking to reduce ticket volume and resolution time
- HR departments handling employee self-service, benefits questions, and onboarding
- Finance and procurement teams automating approvals and data requests
- Enterprise organizations with distributed workforces across multiple business applications
Publicly disclosed clients
- Toyota
- Unilever
- Instacart
- CVS Health
- Marriott
- GitHub
- Siemens
- Palo Alto Networks
Strengths and what to watch
Strengths
- Reached $100M ARR by late 2024, representing exceptional growth from $29.6M in 2023, signaling strong market adoption
- Deployed 10,000+ AI agents across 350+ enterprises including 10% of Fortune 500, demonstrating enterprise-scale execution
- Built proprietary agentic reasoning engine and enterprise search capabilities that ServiceNow valued at $2.85 billion
Watch for
- Internal disruption: Moveworks experienced layoffs and benefit cuts in late 2024, with employee reports of low morale and leadership communication gaps during cost controls
- Antitrust uncertainty: U.S. DOJ initiated a second-request review in June 2025 after ServiceNow acquisition announcement; integration timelines and regulatory obligations remain uncertain
- Acquisition integration risk: As a newly acquired subsidiary of ServiceNow, Moveworks faces potential product consolidation, customer churn if integration strategy changes, and loss of operational autonomy
Recent moves
Key Information
- Industry
- Customer Experience
- Founded
- 2016
- Employees
- 661
- Country
- United States
Frequently Asked Questions
What is Moveworks?
Moveworks is an AI assistant platform founded in 2016 that automates workplace requests across enterprise systems. It uses conversational AI to resolve IT, HR, finance, and facilities tasks, serving over 350 enterprises including 10% of the Fortune 500. ServiceNow acquired it in March 2025 for $2.85 billion.
How does Moveworks automate workplace tasks?
Moveworks deploys AI agents that handle employee requests across 50+ connected business systems including IT ticketing, HR platforms, finance tools, and procurement systems. Its agentic reasoning engine interprets employee conversations, resolves issues autonomously, and routes complex requests to the right team. Over 10,000 agents operate across its customer base.
Which companies use Moveworks?
Moveworks serves over 350 enterprises including 10% of Fortune 500 companies. Notable customers include Toyota, Unilever, Instacart, CVS Health, Marriott, GitHub, Siemens, and Palo Alto Networks. The platform achieved $100 million in annual recurring revenue by late 2024, demonstrating strong enterprise adoption and customer retention.
Why did ServiceNow acquire Moveworks?
ServiceNow acquired Moveworks in March 2025 for $2.85 billion to extend agentic AI across its enterprise platform. The acquisition provided Moveworks' proprietary AI reasoning engine and unified enterprise search capabilities. The deal valued Moveworks at a 20x+ annual recurring revenue multiple, marking a significant exit for early investors.
What business problems does Moveworks solve?
Moveworks reduces IT help desk ticket volumes and resolution times through AI automation. HR departments use it for employee self-service, benefits questions, and onboarding. Finance and procurement teams automate approval workflows and data requests. The platform helps organizations manage distributed workforces across multiple business applications more efficiently and cost-effectively.
What is the status of Moveworks after the ServiceNow acquisition?
ServiceNow completed the Moveworks acquisition in December 2025, creating ServiceNow Otto as an integrated agentic AI experience. The deal underwent U.S. Department of Justice antitrust review, ultimately completing despite regulatory scrutiny. The company faced internal challenges including layoffs and benefit cuts in late 2024 prior to acquisition completion.
How Moveworks compares
Direct head-to-head against 3 competitors. Picked by 7wData.
Moveworks
- Positioning
- AI assistant platform that resolves workplace requests and automates tasks across enterprise systems through conversational AI.
- Customer segments
- IT and help desk operations seeking to reduce ticket volume and resolution time
- Strengths
- Reached $100M ARR by late 2024, representing exceptional growth from $29.6M in 2023, signaling strong market adoption
- Watch for
- Internal disruption: Moveworks experienced layoffs and benefit cuts in late 2024, with employee reports of low morale and leadership communication gaps during cost controls
- Recent moves
- ServiceNow completes acquisition of Moveworks
Glean
- Positioning
- Enterprise work AI platform acting as LLM-agnostic abstraction layer connecting employees to scattered SaaS data and workflows.
- Customer segments
- Fortune 500 enterprises. Buyers: CIOs and IT leaders deploying AI at scale across knowledge workers.
- Strengths
- LLM-agnostic enterprise context layer with $200M ARR and 100M-plus agent actions annually by mid-2025.
- Watch for
- Misconfigured SaaS permissions amplify data exposure risks, raising compliance concerns flagged by security analysts and enterprise case studies.
- Recent moves
- June 2025: raised $150M Series F at $7.2B valuation, led by Wellington Management.
Aisera
- Positioning
- Gen-AI native platform for IT, HR, and customer service self-service, now part of Automation Anywhere's agentic automation stack.
- Customer segments
- Large enterprises with mature ITSM environments. Buyers are IT and HR operations leaders seeking ticket deflection at scale.
- Strengths
- Proprietary LLM trained on 400M-plus service interactions, delivering 65-89% auto-resolution rates on documented enterprise deployments.
- Watch for
- Post-acquisition roadmap uncertainty under Automation Anywhere creates vendor lock-in risk and pricing model shifts toward consumption billing.
- Recent moves
- November 2025: Automation Anywhere acquired Aisera, merging conversational AI with Agentic Process Automation into a single platform.
Microsoft Copilot for Microsoft 365
- Positioning
- M365-native AI assistant embedded across Teams, Word, Excel, and Outlook for knowledge workers at enterprise scale.
- Customer segments
- Large enterprises already on M365 E3/E5. Buyer is IT or digital workplace leader seeking productivity ROI across existing licenses.
- Strengths
- Native integration across Teams, Outlook, Excel, and SharePoint without additional connectors or middleware.
- Watch for
- Only 3 percent of M365 paid seats converted to Copilot by early 2026, signaling low realized value post-pilot.
- Recent moves
- March 2026: Microsoft launched Copilot Cowork and Agent 365, enabling background multi-step task execution across M365 apps.
Sources
- www.moveworks.com — Company mission, products, customer count (350+ enterprises, 10% of Fortune 500), and deployment scale (10K AI agents)
- newsroom.servicenow.com — ServiceNow acquisition announcement, $2.85 billion deal terms, 250 mutual customers, and strategic rationale
- techcrunch.com — Founders (Shah, Nivargi, Singh, Chen), 2016 founding date, Series A/B/C funding rounds, customer list (Unilever, Instacart, Siemens, Toyota, Palo Alto Networks), 500+ employees
- getlatka.com — $100M ARR in 2024, $29.6M ARR in 2023, $2.8B valuation, 607 employees as of 2026
- www.moveworks.com — $100M ARR milestone in September 2024
- techcrunch.com — Antitrust review by U.S. DOJ, second request issued in June 2025
- news.crunchbase.com — Funding history, Series A/B/C amounts and dates, investor names (Lightspeed, Bain Capital, Kleiner Perkins, Tiger Global), 20x+ ARR valuation multiple
- www.glassdoor.com — Employee reviews indicating layoffs, benefit cuts, morale issues, and internal controversies in 2024-2025