Moveworks
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Last reviewed
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Moveworks is an American enterprise AI company that builds a conversational AI assistant and enterprise search platform for automating employee support across functions such as IT, human resources, finance, and facilities. Founded in 2016 and headquartered in Mountain View, California, the company became one of the best-known vendors of "AI copilots" for the workplace, using natural language understanding, machine learning, and increasingly agentic automation to resolve help-desk tickets, answer employee questions, and run multi-step workflows. In March 2025 the workflow-software company ServiceNow agreed to acquire Moveworks for about $2.85 billion in cash and stock, the largest acquisition in ServiceNow's history, and the deal closed on December 15, 2025.[1][2][3]
| Field | Detail |
|---|---|
| Founded | 2016 |
| Founders | Bhavin Shah, Vaibhav Nivargi, Varun Singh, Jiang Chen |
| Headquarters | Mountain View, California, United States |
| Industry | Enterprise AI, employee support automation |
| Products | AI Assistant, enterprise search, agentic automation platform |
| Total venture funding | About $315 million |
| Peak private valuation | About $2.1 billion (June 2021) |
| Acquirer | ServiceNow (announced March 10, 2025; closed December 15, 2025) |
| Acquisition value | About $2.85 billion (cash and stock) |
Moveworks sells a software platform that sits between employees and the many back-office systems a large company runs, with the goal of resolving routine support requests automatically rather than routing them to a human help desk. Employees interact with the product through a chat interface inside tools they already use, such as Slack, Microsoft Teams, or a web portal, and ask questions or make requests in plain language. The system interprets the request, searches across connected knowledge sources, and either answers directly or carries out the underlying task, for example resetting a password, provisioning software access, looking up an HR policy, or filing a ticket.[3][4]
The company positions itself in the market for AI agents and employee-facing copilots, competing with vendors such as Glean, Aisera, and Microsoft's Copilot, and, after the acquisition, operating inside its former competitor ServiceNow. Industry coverage has described Moveworks as a leader in autonomous IT ticket resolution, with customers commonly reporting that the system resolves a substantial share of inbound IT requests without human involvement.[1][5]
Moveworks was founded in 2016 by four technologists: Bhavin Shah, who became chief executive officer; Vaibhav Nivargi, who became chief technology officer; Varun Singh, who led product; and Jiang Chen, who led machine learning. The founding team came from across the technology industry. Shah had previously co-founded the mobile startup Refresh.io, which LinkedIn acquired in 2015, and holds graduate degrees from Stanford University. Nivargi had co-founded the analytics company ClearStory Data, Singh had been a product lead at Facebook (now Meta), and Chen had worked on machine learning and search systems at companies including Google, Yahoo, and Airbnb.[6][7]
The founders' original thesis was that a large fraction of the repetitive requests handled by corporate IT help desks, such as access problems, software questions, and account issues, could be resolved automatically by an AI system that understood natural language. The company first focused on IT support and then expanded its assistant into other departments, including HR, finance, and facilities, as it added the ability to understand more request types and to act inside more enterprise applications. Over time Moveworks shifted its framing from a "chatbot" toward a broader "AI assistant" and, by the mid-2020s, toward agentic automation that could chain together multiple steps to complete work end to end.[3][6]
By the time of its acquisition, the company employed several hundred people and reported serving more than 100 enterprise customers covering roughly 5.5 million employee users.[3]
Moveworks describes its platform as having three connected layers: a front-end AI Assistant that employees talk to, enterprise search that retrieves information across a company's systems, and a reasoning engine that decides what action to take and executes it. The product is built to integrate with the systems where corporate knowledge and workflows already live, including ServiceNow, Workday, Microsoft 365 and SharePoint, Slack, and Microsoft Teams, so that a single assistant can answer questions and trigger actions across many applications.[3][4]
The platform's main capabilities include:
| Capability | Description |
|---|---|
| Conversational AI Assistant | A chat front end embedded in tools such as Slack and Microsoft Teams through which employees make requests in natural language. |
| Enterprise search | Retrieval of answers and documents across connected knowledge sources, so employees can find policies, articles, and records without knowing where they live. |
| Agentic automation | A reasoning engine that plans and carries out multi-step tasks across applications, for example provisioning access or completing an HR process, with governance over what actions are permitted. |
| Analytics and integrations | Connectors to back-office systems (IT service management, HR, finance) and reporting on deflection, resolution rates, and usage. |
A central selling point has been "ticket deflection," the share of support requests resolved automatically without reaching a human agent. As the broader market moved toward generative AI and large language models, Moveworks added retrieval-augmented answering and agent-style task execution on top of its earlier natural-language and machine-learning systems. ServiceNow said that close to 90 percent of Moveworks customers had deployed the technology across their entire workforce, an unusually broad rollout pattern for enterprise software.[3]
Moveworks raised roughly $315 million in venture capital before its acquisition. Its first institutional round was a $30 million Series A in April 2019, led by Lightspeed Venture Partners and Bain Capital Ventures. A $75 million Series B followed in November 2019. The company's largest round was a $200 million Series C announced in June 2021, which valued Moveworks at about $2.1 billion and was led by Tiger Global Management and Alkeon Capital, with participation from existing backers including Lightspeed, Sapphire Ventures, Bain Capital Ventures, ICONIQ Growth, and Kleiner Perkins. The company described the Series C at the time as one of the largest investments ever made in AI for employee service.[8][9][10]
| Round | Date | Amount | Notes |
|---|---|---|---|
| Series A | April 2019 | $30 million | Led by Lightspeed and Bain Capital Ventures |
| Series B | November 2019 | $75 million | Growth round |
| Series C | June 2021 | $200 million | Led by Tiger Global and Alkeon; about $2.1 billion valuation |
Because the 2021 valuation was set near the peak of the venture market, the eventual sale price was below what late-stage investors had paid in on a per-share basis. Industry analysis noted that, on a roughly $2.85 billion exit, much of the capital raised in the final round earned little or no profit, while earlier investors who had bought in at lower valuations realized strong returns.[10]
On March 10, 2025, ServiceNow announced a definitive agreement to acquire Moveworks for about $2.85 billion in a mix of cash and stock. ServiceNow framed the purchase as a way to combine its own workflow automation and agentic AI with Moveworks' employee-facing AI assistant and enterprise search, accelerating what it described as enterprise-wide adoption of AI. The two companies already shared a large base of mutual customers, with roughly 250 organizations using both products, and their software was already integrated, which the buyer cited as part of the rationale.[1][2]
ServiceNow's chief product officer, Amit Zavery, said the deal "accelerates ServiceNow's vision to put AI to work for people across every corner of every business," while Moveworks chief executive Bhavin Shah said that joining ServiceNow would let the company "scale this agentic strategy for any organization." Some reporting initially described the price as roughly $2.9 billion, a rounding of the stated $2.85 billion figure.[1][3]
The acquisition closed on December 15, 2025, after regulatory review, making it the largest acquisition ServiceNow had ever completed. At close, ServiceNow reported that Moveworks served more than 100 enterprise customers, including Siemens, Toyota, and Unilever, reaching about 5.5 million employee users, and that nearly 90 percent of those customers had rolled the technology out across their whole workforce. ServiceNow had earlier indicated it expected to incur integration costs broadly in the range of $150 million to $300 million over the year following the close.[1][3]
The Moveworks transaction was one of the largest acquisitions in the enterprise-AI sector and a notable marker of consolidation in the market for AI assistants and agents aimed at internal company operations. For ServiceNow, a company whose core business is IT and enterprise workflow software, buying Moveworks added a consumer-style conversational front end and enterprise search to a platform centered on structured workflows, and signaled a strategic bet that agentic AI for employee support would become a standard layer of corporate software rather than a standalone product category.[1][2]
The deal also illustrated the gap that opened between private AI valuations set in 2021 and the prices buyers were willing to pay later in the cycle. Although the headline figure of about $2.85 billion exceeded Moveworks' last private valuation of roughly $2.1 billion, dilution and the structure of the rounds meant the outcome varied widely across the company's investors, a pattern that drew attention as a case study in late-stage venture economics.[10]