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ServiceTitan reaches $8.3 billion valuation

panarmenian.net03/27th/2021, 6:54

ServiceTitan reaches $8.3 billion valuation

March 27, 2021 - 10:50 AMT

PanARMENIAN.Net - ServiceTitan, a software provider for tradespeople, co-founded by fellow Armenian immigrants Vahe Kuzoyan and Ara Mahdessian, has raised $500 million in Series F funding, Forbes reports. This latest round’s $8.3 billion valuation quintuples the Glendale, California-based company's previous valuation of $1.65 billion set in November 2018.

This software startup is a mobile, cloud-based software platform that helps home services companies streamline operations, improve customer service, and increase sales.

“Home and commercial services doesn’t rank super high on the glamour scale, but it does on the criticality scale,” says CEO Ara Mahdessian, who cofounded the business with Kuzoyan in 2012. “I think our customers are the real heroes of this story, especially during Covid-19. Think how much more important health and safety in the home has become.”

During the pandemic, ServiceTitan observed some of its customers enjoy an immediate boom in their business, while others struggled. Playing to the collaborative nature of contractors, Mahdessian says, the company was able to collect best practices and put together a playbook for safe and contactl...

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