Friday, March 26, 2021

ServiceTitan Snags $500M, Valuing Firm At $8.3 Billion

Glendale-based ServiceTitan, which develops software used by home service providers and others in the trades to manage appointments, billing, marketing, and more, has raised a huge, $500M funding round. The new funding values the company at $8.3 billion. The funding was led by Tiger Global and Sequoia Capital, and also included H.I.G. Growth, Arena Holdings, Battery Ventures, Bessemer Venture Partners, Dragoneer, Durable Capital Partners, ICONIQ Growth, Index Ventures and T. Rowe Price. According to ServiceTitan, it currently serves more than 7,5000 contracting businesses, and had over $250M in annual recurring revenue. ServiceTitan was founded by Ara Mahdessian (CEO) and Vahe Kuzoyan (President), who founded the company in 2012.