13:16 | 16.03.17 | News | 29335

USD 80 mln invested in ServiceTitan, founded by Armenians

U.S.-based ServiceTitan, the leading provider of business management software for home service businesses, founded by Ara Mahdessian and Vahe Kuzoyan, announced that it had completed an $80 million Series B funding round, led by ICONIQ Capital.

ServiceTitan provides a state-of-the-art software platform that allows home service businesses of any size to effortlessly manage and streamline their operations, improve customer service and grow their business.

“Home service providers are critically underserved when it comes to advanced technology that can dramatically improve their operations and meet the specific needs and demands of their businesses. With this investment, we are looking forward to further enhancing our platform and continuing to work closely with business owners and partners to deliver the very best technology that equips our clients with the necessary tools to succeed,” Co-founder and CEO of ServiceTitan Ara Mahdessian said.

photo © ServiceTitan

ServiceTitan noted that this latest funding round would enable the company to expand and strengthen its capabilities across the ServiceTitan platform.

“It takes significant investment to stay at the forefront of technology, and we are committed to hiring the best developers and team members to continue improving and expanding the tools available to our clients,” Co-founder and President of ServiceTitan Vahe Kuzoyan said.

“We are excited to partner with ServiceTitan and support this great team as they continue to achieve significant growth and strengthen their position as the leading provider of business management software to the home services industry,” Partner at ICONIQ Will Griffith commented.

ServiceTitan was founded in 2013 and currently has around 1000 clients. The company completed a USD 18,96 million Series A funding round, led by Bessemer Venture Partners.