ServiceTitan Closes $80 Million Series B Funding Led by ICONIQ Capital
ServiceTitan, a provider of business management software for home service businesses, announced it has completed an $80 million Series B funding round led by ICONIQ Capital. This funding will go towards expanding and strengthening its capabilities across its platform, including the recently launched ServiceTitan Marketplace.
“Home service providers are critically underserved when it comes to advanced technology that can dramatically improve their operations and meet the specific needs and demands of their businesses,” said Ara Mahdessian, co-founder and CEO of ServiceTitan.
Will Griffith, Partner at ICONIQ, commented: "Ara and Vahe's unique combination of rich technological expertise, deep connections to the home services industry and unrelenting focus on customer success have empowered them to build a suite of compelling solutions that deliver significant and measurable value to customers.”
Backing from ICONIQ and other leading technology investors will also accelerate the introduction of new features currently under development, including online booking with top review sites, more robust inventory management, integration with enterprise-grade accounting systems, enhanced reporting and other developments on ServiceTitan's product roadmap.
“Partnering with these businesses to improve efficiencies is core to the ServiceTitan mission, and we know we have the strongest product to deliver results. It takes significant investment to stay at the forefront of technology, and we are committed to hiring the best developers and team members to continue improving and expanding the tools available to our clients,” said Vahe Kuzoyan, co-founder and President of ServiceTitan.