Who Owns ServiceTitan Company?

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Who Owns ServiceTitan?

The ownership structure of a company fundamentally shapes its strategic direction, governance, and long-term influence. A recent pivotal event for ServiceTitan, the cloud-based software platform for home service businesses, was its initial public offering (IPO) on Nasdaq in December 2024 under the ticker symbol 'TTAN.' This public listing marked a significant shift in its ownership landscape, providing liquidity for early investors and opening up new avenues for capital.

ServiceTitan, Inc., founded in 2007 by Ara Mahdessian and Vahe Kuzoyan, is headquartered in Glendale, California. The founders' vision stemmed from their personal experiences with their fathers' contracting businesses, recognizing the critical need for modern software solutions in an underserved industry. ServiceTitan offers a comprehensive suite of tools for managing various aspects of home service operations, including scheduling, dispatching, CRM, sales, marketing, and field service management. The company's ServiceTitan BCG Matrix analysis would likely place it in a strong position given its market growth.

As of January 31, 2025, ServiceTitan employed 3,049 individuals. The company reported revenue of $614 million in fiscal year 2024, with an implied annual recurring revenue (ARR) of $772 million as of the last quarter of 2024. Its IPO in December 2024 priced shares at $71, valuing the company at approximately $6.42 billion, which then surged to a market capitalization of $9.1 billion by the close of its first trading day. This exploration will delve into ServiceTitan's ownership evolution, from its founders' initial stakes and early venture capital backing to its current major institutional shareholders and the implications of its recent public debut.

Understanding who owns ServiceTitan is crucial for grasping its trajectory. Initially, the company was privately held, with its founders, Ara Mahdessian and Vahe Kuzoyan, holding significant stakes. Early funding rounds saw substantial investment from various venture capital firms, becoming key ServiceTitan investors. These early backers played a vital role in the company's growth and development prior to its public offering. The history of ServiceTitan ownership reflects a common path for successful technology startups, moving from private equity ownership to public market participation.

Following its IPO, the ServiceTitan company structure now includes a broad base of public shareholders. While the founders and early investors may have reduced their direct stakes to some extent, they often retain considerable influence. Identifying the major shareholders of ServiceTitan post-IPO requires examining regulatory filings. The ServiceTitan management team and the ServiceTitan board of directors are responsible for guiding the company, with their decisions influenced by the diverse ownership base. The ServiceTitan company valuation has seen significant appreciation since its founding, demonstrating the success of its business model and its market position.

ServiceTitan was established in 2007 by its current CEO, Ara Mahdessian, and its President, Vahe Kuzoyan. The impetus for creating the company stemmed from their firsthand observations of the operational difficulties encountered by their fathers, both of whom were contractors within the trades industry. Initially, they developed a straightforward program designed to manage customer calls and advertising expenditures.

This early initiative eventually evolved into the comprehensive, cloud-based platform that was officially launched in 2012. The founders' vision was to create an all-encompassing solution that would streamline various aspects of trade business operations, from invoicing to customer relationship management. This foundational principle remains central to the company's identity and its Mission, Vision & Core Values of ServiceTitan.

In its nascent stages, ServiceTitan successfully secured a seed funding round in 2014, with Mucker Capital serving as the initial investor. This early financial backing proved instrumental in transitioning their project from a side endeavor into a rapidly growing business. While the precise equity distribution at the company's inception has not been publicly disclosed, the founders' commitment to developing a robust platform for operational efficiency was a core element of its early structure. Since its founding, the company has garnered over $1.5 billion in funding prior to any potential public offering.

Founding Vision

ServiceTitan was founded by Ara Mahdessian and Vahe Kuzoyan in 2007.

Inspiration

The founders were motivated by the challenges faced by their contractor fathers.

Initial Product

They first developed a program for call management and marketing budgets.

Platform Launch

The comprehensive cloud-based platform was launched in 2012.

Early Funding

Mucker Capital provided seed funding in 2014.

Total Funding

The company has raised over $1.5 billion to date.

Founders and Early Ownership

The early ownership of ServiceTitan is primarily attributed to its founders, Ara Mahdessian and Vahe Kuzoyan. Their shared vision and dedication were the driving force behind the company's inception and initial development. While specific equity details from the very beginning are not public, the founders' active roles as CEO and President, respectively, indicate their significant stake and ongoing influence in the company's direction. The early seed funding from Mucker Capital in 2014 provided crucial capital, likely resulting in an equity stake for the venture capital firm, but the founders remain central figures in the ServiceTitan ownership structure.

• Founders: Ara Mahdessian (CEO) and Vahe Kuzoyan (President)
• Initial Motivation: Addressing operational challenges in the trades industry.
• Early Development: Started with a program for call and budget management.
• Platform Launch: Introduced the cloud-based platform in 2012.
• Seed Funding: Secured investment from Mucker Capital in 2014.
• Total Funding Raised: Exceeds $1.5 billion.

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The ownership journey of ServiceTitan has been marked by significant growth and strategic capital infusions, culminating in its public offering. Prior to its IPO, the company successfully secured approximately $1.4 billion in equity funding from a mix of venture capital and crossover investors across numerous funding rounds. These rounds were crucial in scaling operations and developing its software solutions for the trades industry.

Key milestones in its pre-IPO funding include a substantial $500 million Series F in March 2021, which established a company valuation of $8.3 billion. This was followed by a $200 million Series G in June 2021, pushing its post-money valuation to $9.5 billion. More recently, a $365 million Series H in November 2022 valued the company at $7.6 billion post-money, with a subsequent $34 million Series H-1 and a $136 million employee tender in July 2023 adjusting the valuation to approximately $6.7 billion. These financial maneuvers provided essential capital and offered liquidity to early stakeholders.

Following its debut on Nasdaq in December 2024 under the ticker 'TTAN', ServiceTitan transitioned into a publicly traded entity. As of December 16, 2024, its market capitalization stood at $9.3 billion. The company's S-1 filing revealed significant institutional ownership, with ICONIQ Growth holding the largest stake at 19.4% of total shares (24% of Class A shares). Bessemer Venture Partners follows with 11.2% (13.9% of Class A shares), Battery Ventures with 6.0% (7.5% of Class A shares), and TPG with 5.2% (6.4% of Class A shares). A diverse group of other notable investors, including Index Ventures, Dragoneer, Thoma Bravo, Coatue, Tiger Global, Sequoia, T. Rowe Price, Durable, and Mucker Capital, also hold substantial interests. The founders, Ara Mahdessian and Vahe Kuzoyan, remain key stakeholders, with Vahe Kuzoyan owning 10.3% and Ara Mahdessian owning 9.0% of the company's shares, ensuring continued leadership and alignment with the company's vision. This transition to public ownership marks a new chapter in its growth trajectory, providing access to public capital markets for future expansion and strategic development. For a deeper understanding of its origins, you can explore the Brief History of ServiceTitan.

Key Shareholders Post-IPO

Understanding ServiceTitan's ownership structure is vital for assessing its market position and future direction.

• ICONIQ Growth is the largest institutional shareholder.
• Bessemer Venture Partners and Battery Ventures are also significant investors.
• ServiceTitan founders, Ara Mahdessian and Vahe Kuzoyan, retain substantial ownership.
• The company's market capitalization reached $9.3 billion shortly after its IPO.

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ServiceTitan's Board of Directors currently consists of nine members, reflecting a blend of company leadership, investor representation, and independent expertise. The board operates under a staggered system, with directors elected for three-year terms, ensuring continuity in governance. The company's co-founders, Ara Mahdessian, who serves as CEO, and Vahe Kuzoyan, the President, are integral members of the board, maintaining direct involvement in strategic oversight.

Key figures from major investment firms also hold seats on the board, underscoring the significant backing ServiceTitan has received. Michael Brown, a General Partner at Battery Ventures, and Byron Deeter, a Partner at Bessemer Venture Partners, are among these representatives. Ilya Golubovich, a founding and managing partner of I2BF Global Ventures, has been a director since June 2007, contributing long-term perspective. Other directors include Tim Cabral, William Hsu, and Nina Achadjian, each bringing valuable experience to the company's governance.

The voting power within ServiceTitan is significantly concentrated due to its multi-class common stock structure. The company has three classes of common stock: Class A, Class B, and Class C. Class A shares are granted one vote per share, while Class B shares hold a substantial ten votes per share. Class C shares do not carry any voting rights. The founders, Ara Mahdessian and Vahe Kuzoyan, exclusively hold all Class B stock. This arrangement ensures their continued control over the company's strategic decisions and overall direction. As of April 23, 2025, ServiceTitan had 77,236,428 shares of Class A common stock and 13,404,097 shares of Class B common stock outstanding. This dual-class system is a common strategy among technology companies to allow founders to maintain their vision and control, even after significant investment or potential public offerings.

Understanding ServiceTitan's Ownership Structure

ServiceTitan's ownership is primarily shaped by its dual-class stock system, which grants founders significant voting control. This structure is designed to preserve the founders' vision and strategic direction.

• Founders Ara Mahdessian and Vahe Kuzoyan hold Class B shares with 10 votes each.
• Class A shareholders have one vote per share.
• Class C shares have no voting rights.
• Major venture capital firms are represented on the board, indicating substantial investor influence.
• This structure is common in tech companies to maintain founder leadership.

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The ownership landscape of the company has seen a significant transformation over the past few years, primarily driven by its successful initial public offering (IPO). This transition from a privately held entity to a publicly traded one has reshaped its shareholder base and market perception.

After initially filing confidentially for an IPO in early 2022 with an anticipated valuation of $18 billion, the company navigated challenging market conditions before proceeding. The company ultimately launched its IPO in December 2024, offering shares at $71 each and securing approximately $625 million through the sale of 8.8 million shares. The debut on the Nasdaq was met with strong investor interest, with the stock closing up 42% at $101 on its first day of trading, establishing a market capitalization of $9.1 billion.

Following the IPO, there has been some insider selling activity, a common occurrence as early investors seek liquidity. For instance, Bessemer Venture Partners sold 93,648 shares in July 2025. This trend is often observed as venture capital firms and early-stage investors realize gains after a company goes public. The market sentiment for IPOs in 2025 shows cautious optimism, with the company's successful offering potentially paving the way for other technology and software companies. The company's valuation had previously peaked at nearly $10 billion during its primary funding rounds in 2021. The Forge Price, a measure of its private market valuation, stood at $84.57 in November 2024, reflecting its Series H and H-1 funding rounds. The company's strategic focus remains on expanding its customer base and enhancing its product suite through cross-selling and the development of new solutions. For the third quarter of fiscal year 2025, the company reported a net loss of $46.5 million. Projections for the full fiscal year 2025 indicate total revenue in the range of $761.6 million to $763.6 million. Understanding the Competitors Landscape of ServiceTitan can provide further context to its market position and growth strategies.

Post-IPO Ownership Dynamics

The IPO has broadened the shareholder base, introducing public market investors. Insider selling, like that by Bessemer Venture Partners, is a normal part of this transition. This shift impacts the company's structure and future investment strategies.

Valuation and Market Performance

The company's market capitalization reached $9.1 billion post-IPO. Its stock performance on the Nasdaq debut, closing up 42%, indicates strong initial investor confidence. Previous private valuations had peaked near $10 billion.

Future Growth and Financial Outlook

The company aims to grow revenue by expanding its customer base and product offerings. For fiscal year 2025, projected total revenue is between $761.6 million and $763.6 million. A net loss of $46.5 million was reported for Q3 FY2025.

Key Investors and Funding History

Prior to its IPO, the company secured significant funding through various rounds, including Series H and H-1. Venture capital firms were key backers, contributing to its growth and eventual public offering. Understanding the ServiceTitan investors provides insight into its early development.

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