ServiceTitan Net Worth & Valuation 2023
ServiceTitan Named #7 in the 2023 Forbes Cloud 100
ServiceTitan is one of the most popular software based home service provider of USA. The net worth of ServiceTitan is $9.5 billion. This home service provider company provides different services to the customers including commercial services. This company also provides electrical and plumbing services.
There are a huge number of customers who have been using the software of ServiceTitan. ServiceTitan has grown it’s net worth quickly during COVID-19 pandemic. There are very few home services provider company as wealthy as ServiceTitan. This company achieved the great success because of being an online base service provider.
ServiceTitan Company Short Overview:
- Industry- Contractor software
- Founded- 2007
- Headquarters- Glendale, California
- Country- United States
- CEO- Ara Mahdessian
- Employees- 2,300
ServiceTitan Reportedly Files for IPO at a Possible $18 Billion Valuation:
The startup—founded in 2012 by Armenian immigrants Ara Mahdessian and Vahe Kuzoyan—has also secured venture funding at a prolific rate. ServiceTitan has raised a total of $1.1 billion in capital to date, according to PitchBook data—most recently a $200 million Series G round that closed last June.
At the time, ServiceTitan valuation at $9.5 billion. At that figure, ServiceTitan would rank among the five-most valuable venture capital-backed businesses in Southern California, according to Pitchbook data.
ServiceTitan Named #7 in the 2022 Forbes Cloud 100
ServiceTitan, a software platform built to power the trades, has been named to the Forbes 2022 Cloud 100, the definitive ranking of the top 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures. In the 2022 Forbes Cloud 100 ranking, ServiceTitan ranked at #7.
How ServiceTitan got this Valuation far:
ServiceTitan got this success because of it contractors who have collaborative nature. During COVID-19 pandemic people could not go out from their home and they still needed home services. Every customer in America can get home services with the help of ServiceTitan online software but they have to pay the proper charges for different services.
As people could not go out during the pendamic so they took the easy services of ServiceTitan. In this way ServiceTitan got a huge number of customers which really helped the company to rise the wealth this far. ServiceTitan has more than ten type of services which they use to probide according to the demand of customers. The yearly income of ServiceTitan from every type of service is around $3 million to $5 million.
Working process of ServiceTitan
ServiceTitan is an online service provider company which use to provides the services to the customers very carefully. There are many people of different area who may need home related services like plumbing, electricity services etc. Every customer can use the online software of ServiceTitan and ask for the services.
When any customer ask for any services they select the type of services from the online software of ServiceTitan. There are several contractors who use to work with ServiceTitan and those contractor use to provide the services according to the customer’s call. ServiceTitan keep a proper amoun of percentage from the charge.
This is how ServiceTitan use to make money from the customers. But the services of this software base service provider is really awesome and customers love to get home services from ServiceTitan. ServiceTitan is backed by world-class investors including Bessemer Venture Partners, ICONIQ Growth, Index Ventures, Tiger Global Management, and T. Rowe Price.
Founding story of ServiceTitan
Ara Mahdessian and Vehe Kuzoyan are the two persons who have co-founded ServiceTitan in 2012. They both are from Armenia of America. In 2012 Vehe Kuzoyan and Ara Mahdessian met and planed the founding process of ServiceTitan. They planed how to provide home services and commercial services through online base software. It was an unique and different type of thought which has become a successful business plan after some year.
At first they start with few investors and now there are more than seventeen regular investors who already have invested a lots of money on ServiceTitan. As ServiceTitan has become a company with $8.2 billion net worth so investors have no doubt about their investment. ServiceTitan also has a good history with the contractors. Even many contractors are interested to collaborate with this company.
Bank balance of ServiceTitan
According to the statement of Forbes ServiceTitan has grown a huge amount of money which is $500 millionin the round of Sequiia Capital Global Equities and Tiger Global. Except this ServiceTitan also got several investors. In 2018 the net worth of this company was $1.65 billion which was really impressive for a home service provider company.
There are very few home and commercial service provider company which touch this milestone. In 2021 ServiceTitan $1.1 billion profit and became one of the most wealthy company of America. At present the the amount of ServiceTital’s net worth is $8.2 billion.