Highlights:

  • ServiceTitan provides a set of technologies to help service companies increase productivity and streamline processes.
  • Artificial intelligence is another area in which ServiceTitan excels. In October, the company announced new applications for call centers and sales and an AI assistant for home and commercial contractors.

Cloud business software developer, ServiceTitan Inc. is seeking to raise up to USD 502 million for launching its initial public offering. The company will offer 8.8 million shares priced between USD 52 and USD 57 each.

ServiceTitan was established in 2012 and offers a cloud-based platform designed to meet the requirements of service companies like electrical, plumbing, HVAC, and air conditioning contractors. The business streamlines and modernizes the administration of trades and home service businesses.

ServiceTitan provides a set of technologies to help service companies increase productivity and streamline processes. Among the tools are real-time job tracking, client relationship management, and scheduling and dispatching. Users can oversee their business operations from a single system due to the platform’s integrated marketing automation and payment processing.

The reporting and analytics features that give businesses insights into performance measures like revenue, technician productivity, and customer satisfaction are crucial components of ServiceTitan’s platform. The platform enables users to make well-informed choices that boost profitability and spur growth.

Artificial intelligence is another area in which ServiceTitan excels. In October, the company announced new applications for call centers and sales and an AI assistant for home and commercial contractors. Titan Intelligence, the company’s specialized AI solution for trades, powers the solutions, which are aimed at enabling contractors to automate, forecast, and optimize their operations.

ServiceTitan has raised USD 1.1 billion in venture capital funding in eight stages, including a USD 165 million round in 2018, prior to its first public offering. Index Ventures LLP, Dragoneer Investment Group, T. Rowe Price Group Inc., Battery Ventures LP, Bessemer Venture Partners LP, and Iconiq Growth are among the investors in the business.

ServiceTitan’s IPO would value the company up to USD 5.16 billion at the peak of the USD 52 to USD 57 per share being sought. Additionally, the IPO coincides with a two-year drought in which the number of tech businesses going public has significantly decreased in comparison to the 2020–2022 period.

This year’s notable tech IPOs include Reddit Inc. and Astera Labs Inc. in March, Rubrik Inc. in April, Ingram Micro Inc. in October, and Pony AI ADR in November, all of which raised USD 752 million.