ServiceNow recently announced a landmark agreement to acquire Moveworks, a pioneering creator of automation and AI solutions for enterprises. This high-profile move, valued at $2.85 billion in both cash and stock, is expected to close in the second half of 2025. News of the deal first surfaced Sunday night, generating considerable buzz across the tech industry.
ServiceNow, based in Santa Clara, sees this acquisition as another giant leap toward delivering AI-driven workflows. By merging Moveworks’ expertise with its own AI-focused approach, ServiceNow aims to redefine how businesses handle automation, customer service, and employee support. According to company president and COO Amit Zavery, both organizations already share several customers and have products that seamlessly integrate with each other. This synergy is poised to accelerate AI adoption on a much larger scale.
A New Milestone for AI-Powered Transformation
The planned acquisition comes at a pivotal moment for ServiceNow. As AI continues to dominate enterprise technology, the demand for streamlined solutions has grown rapidly. Integrating Moveworks’ capabilities will deepen ServiceNow’s reach into areas like finance, human resources, and facilities management—all while providing a robust toolset for employees and customers alike.
Moveworks’ strength lies in its “AI-first” experience, which hides complex processes behind a user-friendly interface. This approach promises to boost productivity for companies looking to handle everything from IT inquiries to broader internal questions. By adding Moveworks to its roster, ServiceNow gains an “intuitive, engaging starting place” that simplifies how employees find the answers and services they need.
Why the Moveworks Acquisition Matters
Moveworks was valued at $2.1 billion as of June 2021 and has grown steadily since its founding in 2016. Co-founded by Bhavin Shah, Vaibhav Nivargi, Varun Singh, and Jiang Chen, the startup emerged from stealth in 2019 with a specialized IT support application. Over time, it diversified to handle different lines of business, such as HR and finance. Backed by major investors like Tiger Global, Iconiq Growth, and Kleiner Perkins, Moveworks raised more than $300 million before this acquisition.
For ServiceNow, acquiring an enterprise-focused AI platform is a strategic play that strengthens its AI credentials. It broadens the company’s capabilities to create a seamless experience for employees—saving time, reducing costs, and eliminating bottlenecks. Unilever, Instacart, Siemens, and Toyota are just a few big names already relying on Moveworks, suggesting a ready market for ServiceNow’s combined offering.
Inside Moveworks: A Quick History
Moveworks’ founders each bring distinct expertise to the table:
- Bhavin Shah previously co-founded Refresh, an app acquired by LinkedIn that delivered insights on people within a user’s social networks.
- Vaibhav Nivargi built ClearStory, a business analytics platform.
- Varun Singh served as a lead product manager at Meta (formerly Facebook), focusing on cutting-edge features.
- Jiang Chen lent his engineering talent to major tech giants like Yahoo, Google, and Airbnb before joining Moveworks.
Headquartered in Mountain View, Moveworks quickly stood out for its innovative AI assistant. This core product helped enterprises automate high-level IT support and later grew to support other business functions. With around 500 employees, the startup carved a unique path in the AI and enterprise automation space—one that clearly caught ServiceNow’s attention.
How ServiceNow’s AI Evolution Continues
ServiceNow is no stranger to AI-centric acquisitions. Earlier in January, it acquired Cuein, an “AI-native” conversation data analysis platform. By augmenting its data-processing capabilities, ServiceNow positioned itself as a major contender in intelligent workflow automation.
In a recent press release, Zavery emphasized how Moveworks’ talented team and sophisticated technology will enhance ServiceNow’s AI-driven workflow automation. He described it as an opportunity to build a comprehensive AI platform that combines ServiceNow’s automation strengths with Moveworks’ robust AI assistant and enterprise search technology. Together, these elements promise to help enterprises handle high volumes of requests and tasks more efficiently.
Numbers That Tell the Story
ServiceNow’s newest AI offerings have reportedly become the fastest-growing in its history. As of December 2024, the company claimed nearly 1,000 AI customers and approximately $200 million in annual contract value for its “Pro Plus” AI tier. In the last fiscal quarter (Q4 2024), subscription revenues surpassed $2.96 billion, thanks partly to a surge in AI adoption. These figures suggest that integrating Moveworks’ platform will likely create even more opportunities to expand ServiceNow’s customer base and reinforce its AI leadership.
This momentum underscores why ServiceNow is so confident in this multi-billion-dollar deal. Moveworks’ track record and existing enterprise partnerships fit perfectly with ServiceNow’s goal of expanding automated solutions.
A Glimpse Into the Future
For companies already using ServiceNow and Moveworks, the union promises a smoother, more integrated user experience. Moveworks co-founder Bhavin Shah lauded the potential of this partnership, highlighting how it will allow Moveworks to accelerate innovation and expand on a larger scale.
From cutting down on repetitive tasks to transforming how employees engage with internal systems, the combined solutions could reshape enterprise workflows. Many see this as a game-changing step for businesses that want to stay competitive in an AI-driven world.
A Shift in Enterprise AI
By acquiring Moveworks, ServiceNow cements its position at the forefront of enterprise automation and AI. The acquisition aligns neatly with an industry-wide transition to AI-powered solutions and reaffirms ServiceNow’s commitment to delivering end-to-end automation capabilities. For forward-thinking businesses, this move could mean faster solutions, more streamlined systems, and improved customer and employee satisfaction.
As the deal moves toward finalization, all eyes are on how ServiceNow will shape its next wave of products and services. The combined expertise of both companies hints at a future where complex enterprise tasks become simpler than ever—and where AI stands at the core of every workflow.
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