ServiceTitan Gets Titanic FundingWednesday, March 15, 2017
Glendale startup ServiceTitan, the maker of a management software for home service companies, has secured $80 million in funding.
The company announced Wednesday that it had closed a Series B financing round led by San Francisco’s Iconiq Capital, which manages the investments of family offices, reportedly including Facebook founder Mark Zuckerberg. ServiceTitan completed a $19 million Series A round in 2015, according to company intelligence firm Crunchbase, bringing its total funding to just shy of $100 million.
“Home service providers are critically underserved when it comes to advanced technology that can dramatically improve their operations,” ServiceTitan co-founder and Chief Executive Ara Mahdessian said in a statement. The company plans to use the money to build upon its software, he added.
ServiceTitan’s product is designed to streamline business operations for residential plumbers, air conditioning companies, electricians and other home service professionals. The software includes tools for dispatching technicians to work sites, invoicing and managing customer relations. ServiceTitan recently announced it had partnered with Customer Lobby, the creator of an automated communications platform, to allow users to analyze data from invoices and customer reviews.
More than 1,000 providers have licensed the platform since its launch in 2012, according to ServiceTitan. The firm employs roughly 200 workers at its headquarters on Brand Boulevard.