Wednesday, January 26, 2022

ServiceTitan Eyes IPO

Los Angeles-based ServiceTitan, which develops software-as-a-service products to help home service and contractors manage their business and service calls, is reportedly looking to file for an IPO. According to reports, the company has "kicked off preparations" for an IPO in early 2022. Reuters cites "people familiar with the matter", and said ServiceTitan was valued at $9.5 billion earlier this year. It's not uncommon for companies looking for an acquisition to leak rumors of an IPO, typically through their investment bankers or investors. ServiceTitan was founded in 2012, and offers up its software to the heating, ventilation, and air conditioning; plumbing; and other home services businesses. The company is baked by Tiger Global, Sequoia Capital, and others.