ServiceTitan Reportedly Files for IPO at a Possible $18 Billion Valuation

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

ServiceTitan Reportedly Files for IPO at a Possible $18 Billion Valuation

ServiceTitan—which has parlayed its field service software for contractors into one of Southern California’s most valuable tech startups—has reportedly confidentially filed for an initial public offering, Business Insider reported Tuesday.

The Glendale-based firm is said to be pursuing a valuation as high as $18 billion via an IPO sometime this year—though the report cautioned that both the timing and valuation could change. At that figure, ServiceTitan would rank among the five-most valuable venture capital-backed businesses in Southern California, according to Pitchbook data.


Reuters previously reported that ServiceTitan had begun preparing for an IPO last fall.

ServiceTitan’s software offers back-office tools for a wide range of service industries, from plumbing and landscaping to pest control and HVAC. It has grown in part by gobbling up other businesses, such as landscaping software provider Aspire and pest control-focused platforms ServicePro and, earlier this month, FieldRoutes.

The startup—founded in 2012 by Armenian immigrants Ara Mahdessian and Vahe Kuzoyan—has also secured venture funding at a prolific rate. ServiceTitan has raised a total of $1.1 billion in capital to date, according to PitchBook data—most recently a $200 million Series G round that closed last June. At the time, the firm pegged its valuation at $9.5 billion.

ServiceTitan’s investors include prominent venture capital firms Tiger Global and Sequoia, as well as private equity firms Thoma Bravo and Arena Holdings. Santa Monica-based VC firm Mucker Capital is also among ServiceTitan’s backers.

Representatives for ServiceTitan did not immediately respond to a request for comment on the Business Insider report.

Subscribe to our newsletter to catch every headline.

How Women’s Purchasing Power Is Creating a New Wave of Economic Opportunities In Sports

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

How Women’s Purchasing Power Is Creating a New Wave of Economic Opportunities In Sports
Samson Amore

According to a Forbes report last April, both the viewership and dollars behind women’s sports at a collegiate and professional level are growing.

Read moreShow less
https://twitter.com/samsonamore
samsonamore@dot.la
LA Tech Week Day 5: Social Highlights
Evan Xie

L.A. Tech Week has brought venture capitalists, founders and entrepreneurs from around the world to the California coast. With so many tech nerds in one place, it's easy to laugh, joke and reminisce about the future of tech in SoCal.

Here's what people are saying about the fifth day of L.A. Tech Week on social:

Read moreShow less

LA Tech Week: Six LA-Based Greentech Startups to Know

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

LA Tech Week: Six LA-Based Greentech Startups to Know
Samson Amore

At Lowercarbon Capital’s LA Tech Week event Thursday, the synergy between the region’s aerospace industry and greentech startups was clear.

The event sponsored by Lowercarbon, Climate Draft (and the defunct Silicon Valley Bank’s Climate Technology & Sustainability team) brought together a handful of local startups in Hawthorne not far from LAX, and many of the companies shared DNA with arguably the region’s most famous tech resident: SpaceX.

Read moreShow less
https://twitter.com/samsonamore
samsonamore@dot.la
RELATEDEDITOR'S PICKS
Trending