ServiceTitan

ServiceTitan, Inc.
Company typePublic
Nasdaq: TTAN
Industry
Founded2007; 18 years ago (2007)
Founders
  • Ara Mahdessian
  • Vahe Kuzoyan
HeadquartersGlendale, California, US
Key people
  • Ara Mahdessian (CEO)
  • Vahe Kuzoyan (president)
ServicesEnterprise software
RevenueIncrease US$614 million (2024)[1]
Negative increase US$−195 million (2024)[1]
Number of employees
2,870 (2024)[2]
Websiteservicetitan.com

ServiceTitan, Inc. is an American cloud-based software company headquartered in Glendale, California. It provides customer relationship management (CRM) software for tradespersons, with applications focused on sales, customer service, marketing automation, e-commerce and analytics.

History

ServiceTitan was founded by Ara Mahdessian and Vahe Kuzoyan in 2007; their cloud-based platform launched in 2012.[2][3]

In 2019, the company expanded outside the United States, opening an office in Yerevan, Armenia.[4]

In 2021, the company acquired Aspire Software, a company specializing in software for landscapers, and ServicePro, a company specializing in software for pest control and lawn care contractors. [5]

ServiceTitan was planning an initial public offering for 2022 before the market for them soured, but continued to work with investment banks Goldman Sachs and Morgan Stanley to prepare for a stock market listing in 2024.[6] Following the 2024 United States presidential election,[7] ServiceTitan filed for an initial public offering with the Securities and Exchange Commission.[8] Prior to the IPO, the company raised $1.4 billion in eight rounds of funding from investors, including Iconiq Capital, Bessemer Venture Partners, TPG Inc. and Index Ventures.[9]

References

  1. ^ a b Lipschultz, Bailey; Roof, Katie; Gould, Ryan (November 18, 2024). "Software Startup ServiceTitan Discloses Loss in IPO Filing". Bloomberg News.
  2. ^ a b Darmiento, Laurence (December 3, 2024). "Glendale's ServiceTitan seeks to raise $500 million in IPO". Los Angeles Times.
  3. ^ Konrad, Alex (March 26, 2021). "ServiceTitan, Software Provider For Tradespeople, Reaches $8.3 Billion Valuation". Forbes. Archived from the original on January 24, 2023.
  4. ^ "ServiceTitan Announces Office in Armenia". Los Angeles Business Journal. February 21, 2019. Retrieved July 22, 2024.
  5. ^ Sam Dean (June 30, 2021). "A blue-collar tech giant grows in Glendale". Los Angeles Times. Retrieved July 22, 2024.
  6. ^ Anirban Sen, Milana Vinn (December 19, 2023). "Software startup ServiceTitan prepares for 2024 IPO-sources". Reuters. Retrieved July 22, 2024.
  7. ^ Ben Bergman (August 29, 2024). "When will ServiceTitan finally go public? Now, executives are waiting until after the election, sources say". Business Insider. Retrieved October 8, 2024.
  8. ^ Connor Hart (November 18, 2024). "ServiceTitan Files for IPO". MarketWatch. Retrieved November 19, 2024.
  9. ^ Nieva, Richard; Konrad, Alex (December 12, 2024). "ServiceTitan Quiets The Doubters, With Shares Up 42% In Rare 2024 Tech IPO". Forbes.