ServiceTitan's Success Formula
Enthusiastic investor response is based on a very significant market opportunity, strong revenue growth, deep domain expertise, an end-to-end platform and AI.
This past week one of the most interesting local SaaS companies finally took the IPO plunge. ServiceTitan, which launched in 2012 and has operated out of Glendale, CA, finally made it to the "big show," going public on the NASDAQ (TTAN). The company sold just under 9 million shares, raising $625 million against a total valuation of roughly $9 billion.
ServiceTitan's offering was originally priced at $71 per share but opened at over $100, indicating significant demand for the IPO. The company is often described as a CRM for home services business, but that doesn't really do it justice. It's actually an end-to-end solution (like an OS) for running home services businesses.
