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Software startup ServiceTitan (TTAN.US) raised its IPO price to $65-$67 per share, raising $589.6 million

Market IntelTuesday, Dec 10, 2024 8:40 am ET

1min read

Software startup ServiceTitan (TTAN.US) plans to go public in the United States through an IPO at a higher share price as the capital markets recover in 2024, seeking a valuation of up to $5.95 billion. The company plans to sell 8.8 million shares at a price range of $65 to $67, raising a total of $589.6 million, up from the previous high end of $502 million.

ServiceTitan, founded by Ara Mahdessian and Vahe Kuzoyan, has become a leader in the software market for technicians operating businesses in the heating, ventilation and air conditioning (HVAC) industry. The company, headquartered in Glendale, California, will list on the Nasdaq under the ticker "TTAN."

The IPO is being led by Goldman, Morgan Stanley, Wells Fargo and Citigroup, with a syndicate of 14 firms. ServiceTitan's listing will join the list of venture-backed companies that have gone public this year, including social media platform Reddit (RDDT.US) and cybersecurity software company Rubrik (RBRK.US).

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