Latest news with #Moveworks
TechCrunch
02-06-2025
- Business
- TechCrunch
Console raises $6.2M from Thrive to free IT teams from mundane tasks with AI
If you've ever been locked out of your work computer, you know the urgent need to reach IT support. Unfortunately, helpdesk staff are often busy assisting others, which can mean a significant delay before you regain access. Andrei Serban realized the critical importance of IT's manual work when he was a product lead on Rippling's apps and integrations team. Serban, who joined Rippling after it acquired his coding security startup Fuzzbuzz in 2023, saw an opportunity to automate many of the helpdesk's basic tasks with AI, from resetting passwords to granting access to apps like Figma and Miro, and routine troubleshooting. Sereban couldn't wait to get started on his vision. He left Rippling last year to found Console, a startup on a mission to help IT teams reduce mundane, repetitive tasks, thereby freeing up time for helpdesk professionals to work on more strategic and sophisticated projects. While trying to automate helpdesk functions isn't new, Console differentiates itself from existing competitors, including Moveworks, which was acquired by ServiceNow in March for $2.85 billion, by forgoing long, complex installation processes. Thanks to its easy integration with Slack, Console's AI assistant can be made available to everyone in the company in just a few weeks. 'We're able to get there so fast because you don't require you to replace your help desk,' he said. Console sees itself as an AI co-worker that uplevels existing helpdesk professionals. Serban even suggested that as companies digitize more of their operations, the IT function will become increasingly vital. Employees message Console on Slack and the startup's AI agent quickly responds to requests because it knows everything about the user, from their specific laptop model to the applications they have permission to use. Console's AI can resolve over 50% of the tasks on its own, and it will loop in someone from IT for more complex issues, Serban said. Techcrunch event Save now through June 4 for TechCrunch Sessions: AI Save $300 on your ticket to TC Sessions: AI—and get 50% off a second. Hear from leaders at OpenAI, Anthropic, Khosla Ventures, and more during a full day of expert insights, hands-on workshops, and high-impact networking. These low-rate deals disappear when the doors open on June 5. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW The fast install time attracted customers, including Scale AI, Flock Safety, and Calendly. These customer wins have led Console to secure $6.2 million in seed funding from Thrive Capital. Vince Hankes, a partner at Thrive, said that the firm, which has backed many of the leading AI companies, including OpenAI, Cursor, and ElevenLabs, has had a thesis about artificial intelligence's potential to assist with IT tasks since ChatGPT was first released in the fall of 2022. While Hankes acknowledged that Console's fast integration might make it seem easily replaceable, he believes its AI technology will improve so quickly with user adoption that it will become an indispensable, deeply integrated system essential to everyone at the customer's company. Console's goal is to eventually start supporting other functions, including answering employee requests about HR, finance, and legal. 'We want Console to be an employee's first call for help,' Serban said.
Yahoo
27-04-2025
- Business
- Yahoo
ServiceNow Stock Soars on AI Momentum. Is It Too Late to Buy?
Share prices of ServiceNow (NYSE: NOW) popped after the software company reported strong revenue growth to start the year and raised its guidance. While it's still trading down about 10% year to date, as of this writing, the stock is up about 27% over the past year. Meanwhile, it has been a huge winner over the past decade, up more than 1,150% during that span. The software-as-a-subscription (SaaS) company is best known for its information technology (IT) management platform, which is widely used by IT departments to manage networks and support tasks. And now, with its workflow automation and digital processing tools, it is expanding into other areas such as human resources and customer service. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » The core value of its platform lies in connecting siloed departments and helping organizations digitize and streamline their operations. It also made some acquisitions, including Moveworks and to enhance its customer relationship management (CRM) offerings. It is also leaning into artificial intelligence (AI), incorporating both generative AI and agent-based AI into its platform. Its Now Assist, a generative AI assistant, helps customers in several ways, including providing an AI chatbot to handle questions, a text-to-code generator, and a case summarization tool. More recently, it introduced AI agents to automate workflows and provide support without the need for human intervention. AI was one of the biggest drivers of ServiceNow's first-quarter revenue growth. Its number of Pro Plus deals, which includes its AI solutions, more than quadrupled year over year. And 15 of its 20 largest deals included Pro Plus products. In addition, it signed 39 deals that had three or more Now Assist products. Overall, revenue rose 18.5% year over year to $3.09 billion, while adjusted earnings per share (EPS) also climbed 18.5% to $4.04. That topped the analyst consensus, which was looking for EPS of $3.83 on revenue of $3.08 billion, as compiled by the LSEG. Subscription revenue climbed 19% year over year to $3 billion, while professional services revenue increased 5% to $83 million. The company continues to do well in adding large customers, increasing its number of customers with a net annual contract value (ACV) or $20 million or more by nearly 40%, and customers with ACVs of $5 million or more by nearly 20%. It had 72 deals greater than $1 million in net new ACV in the quarter, up from 63 a year ago. The company called out the manufacturing and healthcare/life sciences sectors as being bright spots. It also said its U.S. government business was solid. Another metric investors like to follow with ServiceNow is growth in remaining performance obligations (RPO), which is deferred revenue plus backlog growth. The reason for this is that it can be an indication of future revenue growth. In the quarter, the company saw RPO climb 25% to $22.1 billion, while current RPO (cRPO) increased by 22% to $10.3 billion. This is a good indication that revenue growth should remain around 20% in the near term. In fact, that is around where the company forecast its second-quarter revenue growth. It projected its subscription revenue to grow between 19% to 19.5% to a range of $3.03 billion to $3.035 billion. It is expecting cRPO to also increase by 19.5%. For the full year, the company slightly increased its subscription revenue guidance. It now expects subscription revenue of between $12.64 billion to $12.68 billion, up from a prior forecast of $12.635 billion to $12.675 billion. The updated forecast represents growth between 19% to 19.5%. As a company that helps its customers create operational efficiency and enhance their digital platforms, ServiceNow is well-positioned even in a more cautious and uncertain economy. It's also expecting significant opportunities in the federal sector after budget cuts. It has even introduced a new government transformation suite that has been purpose-built to help accelerate digital transformation, increase transparency, and improve public service delivery. The company is looking like an AI software winner, and the combination of generative AI and agentic AI should only solidify its position. It's already seeing strong AI growth, and that should continue. From a valuation perspective, the stock now trades at a forward price-to-sales multiple of 14.8 based on 2025 analyst estimates. For a high-margin SaaS business with about 20% revenue growth, that valuation is reasonable, although not in the bargain bin. As such, I wouldn't chase the rally in the stock, but I think it still has solid upside from here over the long term. In the meantime, I would be on the lookout to buy the stock if it gets caught up in any market dips. Before you buy stock in ServiceNow, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and ServiceNow wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $594,046!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $680,390!* Now, it's worth noting Stock Advisor's total average return is 872% — a market-crushing outperformance compared to 160% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 21, 2025 Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends ServiceNow. The Motley Fool has a disclosure policy. ServiceNow Stock Soars on AI Momentum. Is It Too Late to Buy? was originally published by The Motley Fool Sign in to access your portfolio
Associated Press
15-04-2025
- Business
- Associated Press
Moveworks Brings Snowflake Cortex AI to the Moveworks AI Agent Marketplace to Accelerate Data-Driven Insights
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Apr 15, 2025-- Today at Moveworks, the leading agentic AI Assistant for the enterprise, announced an expanded integration with Snowflake, the AI Data Cloud company, to offer Snowflake Cortex AI, Snowflake's fully managed suite of AI services, as a ready-to-install agent to the recently launched Moveworks AI Agent Marketplace. This collaboration allows joint customers to seamlessly access Cortex AI within the Moveworks AI Assistant, enabling enterprises to retrieve data insights across their structured and unstructured datasets using natural language. 'We're excited to work with Snowflake to bring the power of Cortex AI to the Moveworks AI Assistant,' said Bhavin Shah, co-founder and CEO of Moveworks. 'Not only do AI agents surface insights to help users take action, but they collaborate, reason, and automate business processes. Our integration with Snowflake enables our joint customers to quickly install Cortex AI through the AI Agent Marketplace in just a few steps, and allows users to leverage data-driven insights to make informed decisions that will drive business operations forward.' By bringing Cortex AI directly to Moveworks, this AI integration sets organizations up for success by democratizing access to critical data to make informed and timely decisions, leading to better outcomes at every level. Moveworks and Snowflake joint customers can leverage Cortex AI directly within their Moveworks AI Assistant to power agentic text-to-SQL for high-quality structured data retrieval, and unlock state-of-the-art search quality for unstructured data retrieval. Teams can now move from insight to action faster — whether it be sales experts inspecting pipeline and forecasting data to make decisions about account growth strategy, or operational teams analyzing the health of infrastructure systems to inform their purchase orders. 'At Snowflake, we believe that AI agents will soon be essential to the enterprise workforce, enhancing productivity for teams across customer support, field technicians, analytics, engineering and more. With Cortex AI, we're making agentic AI workflows easy, efficient, and trusted to democratize access to data across the enterprise,' said Baris Gultekin, Head of AI, Snowflake. 'Moveworks' adoption of Cortex AI into its AI Agent Marketplace is placing the power of data-driven decision making through AI into the hands of more users, so they too can glean insights that deliver real business value efficiently.' Moveworks AI Agent Marketplace hosts more than 100 pre-built AI agents. Through the AI Agent Marketplace, Moveworks offers users a fast and easy way to discover and install AI agents that automate business processes securely and at scale. Snowflake Cortex AI is available for immediate installation through the Moveworks AI Agent Marketplace. About Moveworks Moveworks is the leading agentic AI assistant, helping businesses transform with a single platform that empowers the entire workforce. Moveworks enables organizations to boost productivity by streamlining how employees across the company find answers and automate tasks. Currently 350+ large enterprises and more than 5 million employees rely on Moveworks — including 10% of the Fortune 500. Customers include Hearst, Instacart, Palo Alto Networks, Siemens, Toyota, and Unilever. Moveworks surpassed $100M ARR in September of 2024 and has raised $315 million in funding at a $2.1 billion valuation from investors such as Alkeon, Bain, Iconiq, Kleiner Perkins, Lightspeed, Sapphire, and Tiger Global. The company is based in Mountain View, CA and has offices in Austin, Bangalore, New York, San Francisco, and Toronto. For more information, follow Moveworks on LinkedIn or visit View source version on CONTACT: Media Contact Aircover Communications [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: SOFTWARE INTERNET ARTIFICIAL INTELLIGENCE DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY APPS/APPLICATIONS BUSINESS SOURCE: Moveworks Copyright Business Wire 2025. PUB: 04/15/2025 08:00 AM/DISC: 04/15/2025 08:00 AM
Associated Press
09-04-2025
- Business
- Associated Press
Leidos and Moveworks Bring Agentic AI Capabilities to Government Agencies
RESTON, Va., April 9, 2025 /PRNewswire/ -- Leidos (NYSE:LDOS), a leading information technology partner for governments worldwide, and Moveworks, the leading agentic artificial intelligence (AI) assistant for enterprises, are collaborating to increase the efficiency of government workers in the U.S., U.K., and Australia. Agentic AI helps people do their work better and faster as a digital personal assistant that knows how to make decisions and automate daily work processes. As commercial organizations are embracing it, the Leidos-Moveworks partnership will allow government agencies to adopt the technology with assured security and compliance. 'For decades, Leidos has been at the forefront of helping government agencies achieve their mission objectives with speed and precision,' said Steve Hull, president of digital modernization at Leidos. 'Our expertise in AI and cybersecurity provides a solid foundation for introducing this transformative technology to the government sector. We're excited to bring these capabilities to government agencies where rapid, intelligent solutions will bring great benefits.' Government employees using agentic AI for administrative tasks such as managing computers and mobile phones, navigating databases and drafting emails will have more time to focus on their agencies' core missions. 'Collaborating with Leidos allows us to elevate the standard of government employee support,' said Bhavin Shah, CEO and co-founder of Moveworks. 'Our focus is on developing AI solutions that enhance the efficiency and quality of operations within government agencies.' Leidos helped Moveworks achieve U.S. government security certification ready status to work with federal agencies. That ensures Moveworks is equipped to support government agencies with secure and compliant AI solutions. Learn more about the Leidos and Moveworks partnership. Learn more about Moveworks' Government solutions. About Leidos Leidos is an industry and technology leader serving government and commercial customers with smarter, more efficient digital and mission innovations. Headquartered in Reston, Virginia, with 48,000 global employees, Leidos reported annual revenues of approximately $16.7 billion for the fiscal year ended January 3, 2025. For more information, visit About Moveworks Moveworks is the leading agentic AI assistant, helping businesses transform with a single place that empowers the entire workforce. Moveworks enables organizations to boost productivity by streamlining how employees across the company find answers and automate tasks. Currently 350+ large enterprises and over 5 million+ employees rely on Moveworks — including 10% of the Fortune 500. Customers include Hearst, Instacart, Palo Alto Networks, Siemens, Toyota, and Unilever. Moveworks surpassed $100M ARR in September of 2024 and has raised $315 million in funding at a $2.1 billion valuation from investors such as Alkeon, Bain, Iconiq, Kleiner Perkins, Lightspeed, Sapphire, and Tiger Global. The company is based in Mountain View, CA and has offices in Austin, Bangalore, New York, San Francisco, and Toronto. For more information, follow Moveworks on LinkedIn or visit Certain statements in this announcement constitute 'forward-looking statements' within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the 'Risk Factors' set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended January 3, 2025, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made. Media Contact: 703.431.4612
Yahoo
09-04-2025
- Business
- Yahoo
Leidos and Moveworks Bring Agentic AI Capabilities to Government Agencies
RESTON, Va., April 9, 2025 /PRNewswire/ -- Leidos (NYSE:LDOS), a leading information technology partner for governments worldwide, and Moveworks, the leading agentic artificial intelligence (AI) assistant for enterprises, are collaborating to increase the efficiency of government workers in the U.S., U.K., and Australia. Agentic AI helps people do their work better and faster as a digital personal assistant that knows how to make decisions and automate daily work processes. As commercial organizations are embracing it, the Leidos-Moveworks partnership will allow government agencies to adopt the technology with assured security and compliance. "For decades, Leidos has been at the forefront of helping government agencies achieve their mission objectives with speed and precision," said Steve Hull, president of digital modernization at Leidos. "Our expertise in AI and cybersecurity provides a solid foundation for introducing this transformative technology to the government sector. We're excited to bring these capabilities to government agencies where rapid, intelligent solutions will bring great benefits." Government employees using agentic AI for administrative tasks such as managing computers and mobile phones, navigating databases and drafting emails will have more time to focus on their agencies' core missions. "Collaborating with Leidos allows us to elevate the standard of government employee support," said Bhavin Shah, CEO and co-founder of Moveworks. "Our focus is on developing AI solutions that enhance the efficiency and quality of operations within government agencies." Leidos helped Moveworks achieve U.S. government security certification ready status to work with federal agencies. That ensures Moveworks is equipped to support government agencies with secure and compliant AI solutions. Learn more about the Leidos and Moveworks partnership. Learn more about Moveworks' Government solutions. About Leidos Leidos is an industry and technology leader serving government and commercial customers with smarter, more efficient digital and mission innovations. Headquartered in Reston, Virginia, with 48,000 global employees, Leidos reported annual revenues of approximately $16.7 billion for the fiscal year ended January 3, 2025. For more information, visit About Moveworks Moveworks is the leading agentic AI assistant, helping businesses transform with a single place that empowers the entire workforce. Moveworks enables organizations to boost productivity by streamlining how employees across the company find answers and automate tasks. Currently 350+ large enterprises and over 5 million+ employees rely on Moveworks — including 10% of the Fortune 500. Customers include Hearst, Instacart, Palo Alto Networks, Siemens, Toyota, and Unilever. Moveworks surpassed $100M ARR in September of 2024 and has raised $315 million in funding at a $2.1 billion valuation from investors such as Alkeon, Bain, Iconiq, Kleiner Perkins, Lightspeed, Sapphire, and Tiger Global. The company is based in Mountain View, CA and has offices in Austin, Bangalore, New York, San Francisco, and Toronto. For more information, follow Moveworks on LinkedIn or visit Certain statements in this announcement constitute "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the "Risk Factors" set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended January 3, 2025, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made. Media Contact: Victor MelaraPress Secretary & Senior Media Relations View original content to download multimedia: SOURCE Leidos
