Celebrating Moveworks’ Acquisition by ServiceNow to Extend Leading Agentic AI to Every Employee
Proudly partnering with Bhavin, Vaibhav, Varun, Jiang, and the Moveworks team since their Series B in 2019.

Moveworks Team

Celebrating Moveworks’ Acquisition by ServiceNow to Extend Leading Agentic AI to Every Employee

Proudly partnering with Bhavin, Vaibhav, Varun, Jiang, and the Moveworks team since their Series B in 2019.

Moveworks Team

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https://www.iconiqcapital.com/growth/insights/celebrating-moveworkss-acquisition-by-servicenow-to-extend-leading-agentic-ai-to-every-employee

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We’re thrilled to announce the acquisition of Moveworks by ServiceNow for $2.85B, a major milestone that underscores Moveworks’ mission to empower enterprises with AI-driven workplace automation. Since co-leading their Series B in 2019, we've been privileged to partner with Bhavin Shah, Vaibhav Nivargi, Varun Singh, Jiang Chen, and the entire team on their incredible journey. Moveworks enhances enterprise AI by providing a single, agentic AI solution that enables employees to instantly find answers, automate end-to-end tasks, and enhance productivity across workflows. Their platform simplifies access to information, streamlines operations, and builds customized AI agents, delivering impressive speed, efficiency, and ROI to leading global organizations.

When we first met Bhavin, Vaibhav, Varun and Jiang in 2019, we were incredibly impressed with the team’s focus on customer success, long-term vision, and deep commitment to product and technology, all of which have underscored the success of Moveworks. Long before transformers and agents were top-of-mind in the AI community, Moveworks was pushing the frontier of AI’s capabilities. The company was among the first to tackle the complexity of natural language understanding in enterprise contexts, ingesting massive volumes of data and customizing AI models to deliver hyper-accurate results. Today, Moveworks continues to push the boundaries with its next-generation AI co-pilot, a game-changing evolution of the platform that incorporates agentic features, enabling employees to not only get answers but take action, proactively completing requests on the user’s behalf.

Moveworks has delivered transformative impact for Fortune 500 companies and Global 2000 companies, such as Hearst, Instacart, Palo Alto Networks, Siemens, Toyota, and Unilever. Industry recognition, including appearances in the Gartner Magic Quadrant, further validates Moveworks' leadership in AI-powered service management.

At ICONIQ Growth, we believe in AI’s potential to redefine industries and partner with visionary founders building category-defining companies that drive automation, efficiency, and transformation. We believe Moveworks embodies this with its mission-driven team, industry-leading AI platform, and scalable technology stack extending across IT, HR, finance, and beyond. Over the course of the last five years, we were proud to support Moveworks with over 30 strategic and commercial introductions. Our partnership underscores our goal to not only invest in groundbreaking companies but also actively help them scale and accelerate their growth.

Moveworks' acquisition by ServiceNow also reflects what we believe is a broader recognition across the industry that AI-powered automation is no longer just a competitive advantage; it’s a necessity. As AI permeates across the entire enterprise software stack, the companies that will lead the next decade are those with deep integrations, proprietary data feedback loops, and action-oriented AI capabilities with demonstrable ROI.

We are immensely proud to have supported Moveworks on its journey to redefine enterprise AI. Congratulations to the Moveworks team on this incredible achievement—we look forward to seeing what you accomplish in this exciting next chapter alongside ServiceNow!

The ICONIQ Growth website does not present information relating to ICONIQ Capital, its investment funds, or its advisory business and should not be consulted for any advisory purposes. The ICONIQ Growth content is intended for the use of company founders and executives.

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The views expressed in this presentation are those of ICONIQ Growth ("ICONIQ" or the "firm"), are the result of proprietary research, may be subjective, and may not be relied upon in making an investment decision. 

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ICONIQ Growth is a trading name of certain ICONIQ businesses, including ICONIQ Partners (UK) LLP. ICONIQ Partners (UK) LLP (Registration Number: 973080) is an appointed representative of Kroll Securities Ltd. (Registration Number: 466588) which is authorised and regulated by the Financial Conduct Authority. ICONIQ Partners (UK) LLP is a limited liability partnership whose members are ICONIQ Capital (UK) Ltd, Seth Pierrepont and Lou Thorne, and it is registered in England and Wales and has its registered office at 27 Soho Square, London W1D 3QR. ICONIQ Partners (UK) LLP acts as an adviser to ICONIQ Capital LLC

Unless otherwise indicated, the views expressed in this presentation are those of ICONIQ Growth (“ICONIQ" or the “Firm"), are the result of proprietary research, may be subjective, and may not be relied upon in making an investment decision. Information used in this presentation was obtained from numerous sources. Certain of these companies are portfolio companies of ICONIQ Growth. ICONIQ Growth does not make any representations or warranties as to the accuracy of the information obtained from these sources.

This presentation is for general information purposes only and does not constitute investment advice. This presentation must not be relied upon in connection with any investment decision. The information in this presentation is not intended to and does not constitute financial, accounting, tax, legal, investment, consulting or other professional advice or services. Nothing in this presentation is or should be construed as an offer, invitation or solicitation to engage in any investment activity or transaction, including an offer to sell or a solicitation of an offer to buy any securities which should only be made pursuant to definitive offering documents and subscription agreements, including without limitation, any investment fund or investment product referenced herein.

Any reproduction or distribution of this presentation in whole or in part, or the disclosure of any of its contents, without the prior consent of ICONIQ, is strictly unauthorized.

This presentation may contain forward-looking statements based on current plans, estimates and projections. The recipient of this presentation ("you") are cautioned that a number of important factors could cause actual results or outcomes to differ materially from those expressed in, or implied by, the forward-looking statements. The numbers, figures and case studies included in this presentation have been included for purposes of illustration only, and no assurance can be given that the actual results of ICONIQ or any of its partners and affiliates will correspond with the results contemplated in the presentation. No information is contained herein with respect to conflicts of interest, which may be significant. The portfolio companies and other parties mentioned herein may reflect a selective list of the prior investments made by ICONIQ.

Certain of the economic and market information contained herein may have been obtained from published sources and/or prepared by other parties. While such sources are believed to be reliable, none of ICONIQ or any of its affiliates and partners, employees and representatives assume any responsibility for the accuracy of such information.

All of the information in the presentation is presented as of the date made available to you (except as otherwise specified), and is subject to change without notice, and may not be current or may have changed (possibly materially) between the date made available to you and the date actually received or reviewed by you. ICONIQ assumes no obligation to update or otherwise revise any information, projections, forecasts or estimates contained in the presentation, including any revisions to reflect changes in economic or market conditions or other circumstances arising after the date the items were made available to you or to reflect the occurrence of unanticipated events. Numbers or amounts herein may increase or decrease as a result of currency fluctuations.

For avoidance of doubt, ICONIQ is not acting as an adviser or fiduciary in any respect in connection with providing this presentation and no relationship shall arise between you and ICONIQ as a result of this presentation being made available to you.

ICONIQ is a diversified financial services firm and has direct client relationships with persons that may become limited partners of ICONIQ funds. Notwithstanding that a person may be referred to herein as a "client" of the firm, no limited partner of any fund will, in its capacity as such, be a client of ICONIQ. There can be no assurance that the investments made by any ICONIQ fund will be profitable or will equal the performance of prior investments made by persons described in this presentation.

Any information in this presentation is directed at, and intended for, only persons who are experienced institutional or professional investors (“professional investors”) as defined by applicable law and regulation. Any person that is not a professional investor is not an intended recipient of this presentation and the matters discussed herein.

ICONIQ Growth is a trading name of certain ICONIQ businesses, including ICONIQ Partners (UK) LLP. ICONIQ Partners (UK) LLP (Registration Number: 973080) is an appointed representative of Kroll Securities Ltd. (Registration Number: 466588) which is authorised and regulated by the Financial Conduct Authority. ICONIQ Partners (UK) LLP is a limited liability partnership whose members are ICONIQ Capital (UK) Ltd, Seth Pierrepont and Lou Thorne, and it is registered in England and Wales and has its registered office at 27 Soho Square, London W1D 3QR. ICONIQ Partners (UK) LLP acts as an adviser to ICONIQ Capital LLC