Cloud software company ServiceTitan (TTAN.US) files to go public, seeking to raise $100M

Market IntelTuesday, Nov 19, 2024 2:20 am ET

1min read

Cloud software company ServiceTitan, headquartered in California, filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) on Monday, seeking to raise up to $100 million. The company plans to list on the Nasdaq under the ticker symbol "TTAN".

ServiceTitan mainly serves contractors such as plumbers and roofers, providing professional software solutions. It offers an end-to-end, cloud-based software platform for connecting and managing various business workflows. Data shows that ServiceTitan processed a total transaction volume of $62 billion in the 12 months ending July 31, 2024; as of January 31, 2024, it had approximately 8,000 active customers (i.e., customers with annualized billing over $10,000). In addition, the company's revenue was $685 million in the 12 months ending July 31, 2024.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.