ServiceTitan, which caters to the booming home improvement sector, has in recent weeks invited investment banks and law firms to pitch for roles in its IPO, the company is expected to finalize advisors in the coming weeks. ServiceTitan is hoping to be valued in the IPO at as much as double the nearly $9.5B valuation it commanded in a private fundraising round in June.
ServiceTitan, Los Angeles-based startup founded just eight years ago, now boasts more than 7,500 customers that employ more than 100,000 technicians and conduct nearly $20 billion worth of transactions. In all, the new $500 million round likely sets the stage for a public offering later this year or before the end of 2022 if market conditions hold.
ServiceTitan, a provider of a software and operating system for residential and commercial service and replacement contractors, acquired WaterSoftWare, a business management solution for the water treatment industry