On Nov. 18, ServiceTitan, the Los Angeles, Calif.-based software platform behind FieldRoutes and other service industry programs, filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of its Class A common stock. At press time, the number of shares to be offered and the price range for the proposed offering have not been determined. The offering is subject to market conditions.
ServiceTitan intends to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “TTAN.”
Per a ServiceTitan press release, Goldman Sachs & Co. LLC and Morgan Stanley will act as lead book-running managers for the proposed offering. Wells Fargo Securities and Citigroup will act as additional book-running managers. KeyBanc Capital Markets, Truist Securities, Canaccord Genuity, Needham & Company, Piper Sandler, Stifel and William Blair will act as passive bookrunners. First Citizens Capital Securities, Academy Securities and Loop Capital Markets will act as co-managers.
At press time, a registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
About ServiceTitan
Based in Los Angeles, Calif., ServiceTitan was founded by Ara Mahdessian Mahdessian and Vahe Kuzoyan in 2012 as a software management solution for their fathers, who both worked in the trades. The company’s end-to-end solution, an integrated, cloud-based, software-as-a-service (SaaS) platform, is designed to give contractors the tools they need to run and grow their business, manage their back office, and provide a stellar customer experience. ServiceTitan is backed by world-class investors including Battery Ventures, Bessemer Venture Partners, ICONIQ Growth, Index Ventures, Sequoia Capital, Thoma Bravo, Tiger Global Management, TPG, and T. Rowe Price.
ServiceTitan continues to serve residential and commercial contractors focused on heating, ventilation and air-conditioning (HVAC), plumbing, electrical, and other trade verticals. It also continues to expand its customer base in the green industry, which it defines as the pest control, lawn care, landscaping, and janitorial sectors. ServiceTitan serves more than 11,800 businesses in North America.
<p>The post ServiceTitan files for IPO first appeared on Pest Management Professional.</p>
from Pest Management Professional https://www.mypmp.net/2024/11/18/servicetitan-files-for-ipo/
Sacramento CA
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