ServiceTitan

ServiceTitan is a leading cloud-based software platform that provides comprehensive business management solutions for the trades industry, specializing in serving plumbing, HVAC, electrical, and other home and commercial service businesses. Founded in 2007 by Armenian-American immigrant entrepreneurs Ara Mahdessian and Vahe Kuzoyan—whose fathers both owned residential contracting businesses—ServiceTitan was born from a deeply personal mission to modernize an industry that had been 'frozen in time' while other sectors advanced through technology and automation. The founders met on a college ski trip while studying software engineering at Stanford and USC respectively, and recognized the opportunity to transform how trade businesses operate.

After launching its cloud-based platform in 2012, ServiceTitan has grown to serve over 7,500 customers and reach $772 million in implied annual recurring revenue (ARR) in 2024, growing 24% year-over-year. The company's all-in-one platform streamlines operations including job scheduling, dispatching, customer relationship management, invoicing, payment processing, inventory management, and business analytics—empowering trades businesses to accelerate growth, drive operational efficiencies, and deliver superior customer experiences. ServiceTitan achieved a historic milestone on December 12, 2024, when it went public on the Nasdaq under ticker symbol TTAN in one of the year's most successful tech IPOs, with shares surging 42% from the IPO price of $71 to $101 on the first day of trading.

The December 2024 IPO raised approximately $625 million and valued the company at nearly $9 billion, marking ServiceTitan as the first significant venture-backed tech company to go public since Rubrik's debut in April 2024. Backed by leading investors including Thoma Bravo, Tiger Global Management, Sequoia Capital Global Equities, Bessemer Venture Partners, and Battery Ventures, ServiceTitan has raised substantial funding throughout its journey, though it fetched a $9.5 billion valuation during the 2021 fundraising boom before settling at $7.6 billion in a 2022 funding round. With 2024 revenue reaching $449.7 million (up 25.64% YoY) and a values-driven culture that motivates 98% of employees positively, ServiceTitan continues to build the operating system for the trades—a critical $800 billion industry that employs millions of Americans.