Kalshi Raises $1 Billion at $40 Billion Valuation

Serval has raised $150 million in a funding round led by Sequoia, achieving a $3 billion valuation to compete against ServiceNow. Meanwhile, Kalshi has secured $1 billion in funding at a $40 billion valuation. This round was led by Wellington and Sequoia, with additional participation from Baillie Gifford, Andreessen Horowitz, Coatue, and Morgan Stanley Investment. These investments highlight significant capital inflows for startups challenging established enterprise software and prediction markets.