The funding helps ServiceTitan’s valuation hit the $9.5B mark. Here are the top-line bullets you need to know.
ServiceTitan, a trade software provider, has raised $200M in a Series G with participation from Thoma Bravo, Bessemer Venture Partners, Sequoia Capital, and Tiger Global Management, among others.
How’s the company performing?
- California-based ServiceTitan is a vertical software-as-a-service suite for commercial and residential HVAC, plumbing, electrical, and field services-related businesses.
- The company’s ARR crossed $250M as of March 2021, a 50% growth from the previous year.
- ServiceTitan’s customers have made over $20B in transactions in 2020.
- The company has over 1,600 employees worldwide. It caters to more than 100,000 contractors and over 5,000 field services companies like John Moore, Hunter, and Baker Brothers.
- In June, ServiceTitan acquired Aspire, a software provider for landscaping businesses, for an undisclosed amount.
Why does the market matter?
- The global home services market is expected to grow at a CAGR of 18.91% to reach a value of $1.133T by 2026, as per Verified Market Research.
- The remote work-induced resurgence of homeownership and a rising focus on retrofitting for energy efficiency have contributed to the industry’s growth.