With this acquisition, ServiceTitan will bolster its suite of technology solutions. Here are the top-line bullets you need to know.
WHO ARE THE PARTIES TO THE DEAL?
- Schedule Engine: Pennsylvania-based Schedule Engine provides online scheduling technology for home and commercial service appointments. The company’s software is used by contractors like Milestone, TurnPoint, and Wrench Point, among others. It integrates with software solutions like ServiceTitan, Housecall Pro, and Successware.
- ServiceTitan: California-based ServiceTitan provides a software-as-a-service suite of tools for commercial and residential HVAC, plumbing, electrical, and field services-related businesses. The company has over 2K employees and 7 offices worldwide. It has more than 100K platform users. Over 5K field service companies use its software, including John Moore, Hunter, and Baker Brothers.
Source: Schedule Engine
WHY DOES THE MARKET MATTER?
ServiceTitan wants to enhance its capabilities in the global home services market where:
- The global home services market is expected to reach a value of $2.25T by 2028, growing at a CAGR of 29.9%, according to Verified Market Research.
- The remote work-induced resurgence in homeownership and a rising focus on retrofitting for energy efficiency have contributed to the industry’s growth.