      Tomasz Tunguz (Theory Ventures) · 2024-01-26
      · 860d
    

AI Products Drive Record New Bookings at ServiceNow

ServiceNow reported that its generative AI products achieved the largest net new ACV contribution of any new product release in company history during Q4 2023. The company is experiencing accelerated growth and raising revenue outlook by $165 million as customers pay premiums for AI-enhanced solutions. Multiple large enterprise software companies are beating growth predictions due to AI adoption.

6 metrics· Cited 0× in the knowledge base ·Open source ↗

Metrics in this report

Developer Innovation Speed Improvement

52%

ServiceNow developers using AI code generation

Product Lines Above ACV Threshold

11count

ServiceNow individual product lines with north of $250M ACV

ServiceNow Market Capitalization

150$B

Company valuation at time of article

Subscription Revenue Outlook Increase

165$M

midpoint

ServiceNow FY outlook revision

Tomasz Tunguz Newsletter Readership

150k subscribers

Newsletter subscriber base

Workflow Businesses Above ACV Threshold

3count

ServiceNow business lines over $1B in ACV