Glendale-based ServiceTitan Inc., a developer of management software for home services contractors, has acquired St. Louis-based Aspire Software, a technology provider for commercial landscaping businesses.
The acquisition will add a landscaping vertical to Service Titan’s services platform, which offers management software for businesses such as pest control, pool care and plumbing.
Aspire Software will continue operating in St. Louis, ServiceTitan said in the June 30 announcement. Financial terms of the deal were not disclosed.
The acquisition is ServiceTitan’s second this year, following the purchase of software company ServicePro in February.
Founded in 2013, Aspire Software provides management tools for landscaping, snow and ice, and construction businesses. The company works with “hundreds” of commercial landscapers who collectively have more than 50,000 customers, ServiceTitan said.
“Both Aspire and ServiceTitan were born out of a desire to improve the lives of contractors who work tirelessly to serve their communities but who have historically been underserved by technology,” Ara Mahdessian, chief executive and co-founder of ServiceTitan, said in a statement.
The company also announced a $200 million Series G funding round, led by Chicago-based software investment firm Thoma Bravo. The round makes ServiceTitan one of the most valuable startups in the Los Angeles area with a valuation of $9.5 billion.
ServiceTitan will use the funding to support research and development and customer service following the launch of the company’s customer support center in Salt Lake City in May. The company also plans to hire staff for its customer support, sales, product and engineering teams.
“ServiceTitan’s expansion into landscaping, a more than $100 billion market in the U.S. alone, is an important step on its path to provide all home and commercial tradesmen with the tools they need to grow and manage a successful business,” Robert “Tre” Sayle, a partner at Thoma Bravo, said in a statement.
The round follows the company’s $500 million raise in March, which was led by New York-based Tiger Global Management and Menlo Park-based Sequoia Capital Global Equities. ServiceTitan invested the funds in customer experience, product development and hiring.
ServiceTitan experienced rapid growth amid the pandemic. The company announced in March that it brought in more than $250 million in annual recurring revenue, a spike of more than 50% over the past 12 months.
Founded in 2012, ServiceTitan offers management software for contract businesses for 10 types of home services. The company’s software is used by more than 7,500 contracting businesses that employ a total of more than 100,000 people and perform more than $20 billion worth of annual transactions across all of its home and commercial service verticals. ServiceTitan employs more than 1,600 people globally.
