News
ServiceNow acquires Moveworks for nearly $3B, backed by Bain, Kleiner, and Lightspeed
Key Points
- ServiceNow acquires Moveworks, an AI workflow automation platform, for nearly $3 billion.
- The deal marks a consolidation of enterprise AI capabilities as ServiceNow folds Moveworks into its cloud workflow platform.
- Moveworks' exit returns capital to backers Bain Capital, Kleiner Perkins, and Lightspeed Venture Partners.
Summary
ServiceNow is acquiring Moveworks, an AI platform for enterprise workflow automation, for nearly $3 billion. Moveworks was backed by Bain Capital, Kleiner Perkins, and Lightspeed Venture Partners. The deal folds Moveworks' automation capabilities into ServiceNow's cloud workflow platform.
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