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ServiceTitan

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American software company

ServiceTitan, Inc.
[REDACTED]
Company typePublic
Traded asNasdaq: 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$614 million (2024)
Net incomeNegative increase US$−195 million (2024)
Number of employees2,870 (2024)
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.

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

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.

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. Following the 2024 United States presidential election, ServiceTitan filed for an initial public offering with the Securities and Exchange Commission. 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.

References

  1. ^ Lipschultz, Bailey; Roof, Katie; Gould, Ryan (November 18, 2024). "Software Startup ServiceTitan Discloses Loss in IPO Filing". Bloomberg News.
  2. ^ 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.
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