Los Angeles Business Journal

ServiceTitan Raises $80 Million in Series B Funding

By Kat Speed Wednesday, March 15, 2017

ServiceTitan, a Glendale-based provider of business software for home service businesses, announced Wednesday it closed an $80 million Series B funding round.

The funding round was led by Iconiq Capital, a global multi-family office and merchant bank, famous for advising Facebook co-founder Mark Zuckerberg.

ServiceTitan, founded in 2012 by Vahe Kuzoyan and Ara Mahdessian, specializes in software that helps owners of home service businesses to streamline their operations and improve customer service. The software offers features such as reporting, invoice management, and marketing analytics. ServiceTitan’s software is used by residential plumbing and electrical service providers.

The seed funding will be used to hire additional staff and improve the capabilities of the software. It will also be used to accelerate the development of new features, such as online booking with review websites and integration with accounting systems.

“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,” Vahe Kuzoyan, co-founder and president of ServiceTitan said. “This funding will help us expand our product, customer success and support teams, recruiting the best and brightest talent from across the country.”

ServiceTitan now is used by more than one thousand companies, including franchise systems Mr. Rooter and Mr. Electric.

Reporter Kat Speed can be reached at kspeed@labusinessjournal.com.