Software developer ServiceTitan has received $18 million in Series A funding, the company announced Tuesday.
The Glendale firm will use the money to expand customer support, hire technical personnel and promote its software to companies providing HVAC, plumbing and electrical services for homes.
Bessemer Venture Partners in Menlo Park led the financing round that also included previous investors I2BF Digital in New York, Mucker Capital in Los Angeles and Amenalav Group. ServiceTitan co-founders Ara Mahdessian and Vahe Kuzoyan remain as majority owners of the company.
ServiceTitan’s cloud-based software assists electrical and plumbing contractors to streamline operations and improve customer service by tracking sales, accessing customer information and detailing marketing campaign metrics. The software is used by large home service franchises Mr. Rooter, Mr. Electric and Aire Serv.
“ServiceTitan is the gold standard, rapidly replacing legacy solutions and enabling workers to take advantage of mobile technology,” Bessemer partner Byron Deeter said in a prepared statement.
IPC Healthcare Inc. has acquired Extended Care Physicians, a large doctors group in North Carolina.
The North Hollywood company, which provides doctors to hospitals and nursing homes, estimates the acquisition will add 160,000 doctor visits a year to the company’s total. Extended Care Physicians in Asheville provides primary medical care to seniors in more than 130 nursing homes in the Carolinas.
“This acquisition significantly expands IPC’s presence in the Carolinas and offers us the opportunity to enhance the excellent services that the ECP clinicians have provided,” Jeffrey Taylor, chief operating officer at Healthcare, said in a statement. “It also gives us the capability to explore partnerships with both acute care hospitals and payers in both states.”
Shares closed down 51 cents or 1 percent to $50.37 on the Nasdaq.