ServiceTitan Seeks Valuation of Up to $5.95 Billion in IPO
Software startup ServiceTitan is seeking a valuation of up to $5.95 billion in its U.S. initial public offering by raising the price at which it plans to sell shares. The company will still sell 8.8 million shares, but at a raised price range of $65 to $67 each, which would fetch it up to $589.6 million, compared with the $502 million it would have raised at the higher end of the earlier price band.
Glendale, California-based ServiceTitan will join a handful of venture capital-backed firms that have gone public this year, including social media platform Reddit and cybersecurity software firm Rubrik. The company makes software used by businesses that are run by technicians serving the heating, ventilation and air conditioning sectors.
ServiceTitan will be listed on the Nasdaq under the symbol “TTAN.” Goldman Sachs, Morgan Stanley, Wells Fargo, and Citigroup are leading a 14-firm underwriting syndicate.
