ServiceTitan Raises Round to Expand Market

By staff-author

June 16, 2015

169

In a push to sell its home-service provider Web platform into new markets, L.A.’s ServiceTitan has raised an $18 million investment round led by Bessemer Venture Partners.

The round values the company at $100 million. Previous seed round investors I2BF Digital, Mucker Capital and Amenalav Group also invested.

ServiceTitan makes a backend scheduling, customer relationship management and marketing Web platform tailored for handling HVAC, plumbing, electrical and other home-service providers.

While businesses already have an abundant selection of customer support and customer relationship management software options, including Salesforce and ZenDesk, ServiceTitan said those programs have neglected the needs of businesses catering to home systems and have held onto outdated systems.

“Most of the competitors we go up against are simple legacy systems; these are DOS-based, very old cumbersome systems,” said co-founder and Chief Executive Ara Mahdessian.

ServiceTitan’s software is designed for the service industry with features such as an automated appointment email reminder that are friendlier to smaller service businesses. Typical customers are independently owned businesses or franchises that have about 10 technicians.

Mahdessian said the company’s 2014 revenue was 10 times greater than the year earlier. ServiceTitan has 64 employees and plans to use its new tranche of money to grow its staff to 120 by the end of the year.

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