ServiceTitan, a Los Angeles, CA-based provider of software for the trades, raised $200m in Series G financing.
The round, which valued the company at $9.5 billion, was led by new investor Thoma Bravo.
The company intends to use the funds to continue to invest in research and development, growth, and customer service, following the launch of its customer support center in Salt Lake City in May, and hire talent across the board, particularly in customer support, sales, product, and engineering.
ServiceTitan also entered into a definitive agreement to acquire Aspire Software, a software provider for commercial landscaping businesses, founded in 2013 by Mark Tipton and Kevin Kehoe and based in St. Louis, Missouri. The deal followed the company’s acquisition of ServicePro, a provider of a software solution for the pest, lawn, and arbor industries.
Led by Ara Mahdessian, CEO and co-founder, ServiceTitan provides home and commercial service industry players with a software suite that features CRM, intelligent dispatch, custom reporting, marketing automation, a mobile solution for field techs, and accounting, payments and financing integrations. The company, which is backed by investors including Thoma Bravo, Tiger Global Management, Bessemer Venture Partners and ICONIQ Growth, has more than 1,600 employees worldwide. It surpassed $250 million in annual recurring revenue in March.
FinSMEs
01/07/2021