ServiceNow Takes Minority Stake in BusinessNext, Betting on Partnerships Over Acquisitions for Vertical AI

ServiceNow Ventures invested $40 million in Indian banking software firm BusinessNext, securing about 5% at a $700 million valuation. The Series C deal gives BusinessNext access to ServiceNow's global sales channel, while ServiceNow gains a foothold in banking workflow automation. Large platform vendors increasingly favor minority stakes over full acquisitions to add vertical AI capabilities without integration burden or regulatory scrutiny.