Cloud software company ServiceTitan files for IPO

ServiceTitan equips field service technicians and workers with customer service tools, sales, and invoicing tools to increase profitability. Its main features include dispatching, scheduling, call booking, marketing, and reporting. ServiceTitan has built a name for itself in the trade software industry and has taken its share of ups and downs. As an all-in-one cloud-based software, ServiceTitan has all the features HVAC, plumbing, electrical and other trade companies require to operate their business and efficiently manage their workflow. Business owners often find that when they migrate to ServiceTitan, the increased level of organization they can maintain by having all of the information in one place leads to an increase in their bottom line.

All the specs and prices we can round up can’t quite stand in for case studies that depict just how well a field service software can work for a real-life business. The problem with trying to understand the price of field service software is that they typically are customized for each individual company. Whether you’re a massive corporation looking for iq option broker review improved organization or a small startup in need of some help, these software can cost a lot or a little depending on what you need. ServiceTitan is arguably the most popular software solution for service-based businesses on the market today.

What is ServiceTitan’s ‘Schedule’?

Meritech Capital, in an analysis of the offering, said ServiceTitan appears to be eager to go public due to an unusual provision of its $365-million funding round in November 2022 when money was harder to come by. A so-called IPO ratchet protected participants by guaranteeing them more shares should the company’s IPO price decline below its funding-round valuation. Before committing to any software, we recommend that you get a field service software price quote – this way, you can compare bespoke quotes from various providers. You simply need to fill in a few simple details in order to get quick, no obligation comparable quotes from top software companies. ServiceTitan integrates with software solutions you may already have, such as QuickBooks, Nexstar, Reviewbuzz, and others. When you integrate your platforms, you can preserve data integrity, use real-time campaigns and reporting, and save time with workflows.

• Titan Advisor guides you through the workflows and best practices we’ve proven to take your business to the next level.
• If ServiceTitan’s valuation continued to rise after its 2022 round, bringing up its share price with it, none of this would matter much.
• If you’re looking for a field service software that can do it all, ServiceTitan is the way to go.
• Add to your change management toolbelt with training designed to provide a high-level overview of ServiceTitan so you know what to expect during onboarding.
• By delivering a seamlessly integrated experience, ServiceTitan enables contractors to accelerate growth, drive efficiencies, and provide superior customer experiences.

We offer a variety of training options to fit your needs.

Revenue was up about 24% year over year, and the quarterly loss had narrowed from almost $52 million. The filing suggests that investors could be getting more interested in next-generation software companies. Just a few, including Reddit and Rubrik, debuted on public markets in the U.S. this year, and chipmaker Cerebras filed for an initial public offering.

Here’s why ServiceTitan was on the clock to go public

ServiceTitan is not only a cloud-based service, but also prioritizes functionality, with its modern, easy-to-use layout. …you’re an HVAC contractor who’s into marketing data and automation. The platform also measures brand reputation through audience monitoring, review generation, review collection, listings, location, and alerts. The tab organizes these into unsold estimates, sold estimates, surveys, recurring service events, expiring memberships, service agreements, and service agreement visits. The Follow Ups section handles all the clients and calls you were not able to convert previously or yet (in case of upsells and upcoming sale opportunities). The dashboard features an overhead menu of the main sections, each with its dedicated page and charts, data, and set of actions.

Iconiq is the largest institutional shareholder of ServiceTitan, holding 24% of Class A shares. Three months after adapting the ServiceTitan Yelp integration, Rescue Air had increased their bookings by $50,000 — all from Yelp Integration bookings. Here are two examples of actual operations that made the choice to use ServiceTitan, and how it wound up helping them reach the next level, thanks to its innovative integrations. Aside from marketing analytics, you can drill down into your campaigns from Google Ads, Pro campaigns, and email marketing.

Our parents came to this country to build better lives for their families. Our fathers built residential contracting businesses and put down roots. They worked tirelessly to give us every opportunity they never had. They put us through college and pushed us out into the world to build on the foundations they laid.

Please bear with us as we address this and restore your personalized lists. When ServiceTitan raised its $365 million Series H round in November 2022, the deal included a compounding IPO ratchet, as first pointed out by late-stage VC Meritech Capital and outlined in the company’s S-1 filing. Investors include Battery Ventures, Bessemer Bolsas asiaticas Venture Partners, Iconiq and TPG. ServiceTitan plans to keep up to 5% of shares in the IPO for eligible clients, the founders’ friends and family members, and others through a directed share program. Lead underwriters on the IPO are Goldman Sachs Group, Morgan Stanley, Wells Fargo and Citigroup.

The business units tab shows your business departments and their corresponding details. The drop-down menu also review capital in the twenty-first century allows you to access inactive business units. The ServiceTitan dashboard is designed for ease of use, quick navigation, and data visualization.

What sets ServiceTitan apart is the fact that it’s focused on the trade industry. For business owners in the HVAC, plumbing and electrical industries, for example, the software can be an ideal solution to manage their day-to-day operations. The capacities it provides streamline scheduling, dispatching technicians and invoicing and billing by inventory, which otherwise takes a lot of time and effort to manage. All of these functionalities can lead to increasing a company’s profit.

Untangle your office processes and unite your operations under one, robust system that keeps electricians in the field connected to your entire team. After raising $100 million in Series E funding in April, Sherman Oaks-based workflow automation startup FloQuast Inc. said it is inching its way toward an initial public offering. Closing rates, booked jobs, and other key metrics show you the strengths of your team and individual techs. With ServiceTitan, you see your schedule weeks—even months in advance to ensure the right techs are available at the right times to get the job done.

This specific structure means that the terms of that ratchet clause change if the company didn’t go public by a set date, which was May 22, 2024, 18 months after their Series H round. Since the deadline has come and gone, the minimum valuation ServiceTitan would need to go public at to avoid diluting its shares more, also known as a hurdle rate, will compound each quarter at a rate of 11% annually. They aren’t always available, as business hours do prohibit any late night issues. But once you’re on the phone or online with them, you can rest assured that your field service business will be up and running soon.

From schedule management to invoicing to billing, ServiceTitan is one software that can run practically every aspect of your business. Power your business with a platform designed to give you better profit margins, a faster cash flow, and workflows that encourage productivity. Power your business with a platform designed to give you workflows that encourage productivity. Always know which customers are due for maintenance with intuitive CRM features that equip your team with rich job histories and customer profiles. Easy access to every call lets you gauge performance and focus on superior customer service.