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Saturday, Sep 30, 2023

ServiceTitan Raises $62 Million in Venture Capital

ServiceTitan, a Glendale-based software app for service professionals, announced $62 million in Series C funding. The funding round was led by Battery Ventures and will be used to expand the company from 400 to 500 employees by the end of the year, as well as for product enhancement and partnership expansion. “We’re thrilled to deepen our partnership with Battery, who have decades of experience in specialized software markets,” said Ara Mahdessian, ServiceTitan co-founder and chief executive, in a statement. ServiceTitan was founded in 2012 and is a mobile, cloud-based app used by home service companies such as plumbers, electricians and HVAC professionals to organize their workflow and grow their businesses. Through the app, companies can market, access Quickbooks and manage other customer service aspects of their business. ServiceTitan has more than 2,000 customers. “We’re proud to have established partnerships with industry manufacturers and distributors like Honeywell who see the same potential in equipping tradespeople with a cutting-edge SaaS [software as a service] solution,” said ServiceTitan president and co-founder Vahe Kuzoyan. As part of the deal, Bessemer Venture Partners and ICONIQ Capital added to their existing investments. In addition, Battery Ventures partner Michael Brown will join the ServiceTitan board.

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