ServiceTitan is a mobile, cloud-based software platform that helps home-service companies streamline operations, improve service and grow their businesses.
Background:
Our investment in ServiceTitan grew out of a Battery research project, kicked off in 2016, into what the firm termed “blue-collar software”. The term described technology for workers in the field—on a crowded construction site, or on a factory or retail-shop floor—instead of those sitting behind a cushy office desk.
This software, Battery wrote in a slide deck at the time summarizing our thesis, was often delivered via mobile devices and focused on automating workflows like generating leads, scheduling work shifts, managing customers and processing payments. We noted that 60% of the U.S. labor force, by 2017, was comprised of these “non-desk” workers, and that their lives and businesses could be dramatically improved by upgrading the technology around them—just as office workers operate more efficiently with slick new online-collaboration systems.
That year, as part of that thesis, we aggressively pursued a Glendale, CA-based software company called ServiceTitan, which focused on software for the trades. The company was founded in 2012 by Ara Mahdessian and Vahe Kuzoyan, who met on a college ski trip for Armenian-American students and bonded over the fact that both their fathers had similar backgrounds as tradesmen. Ara and Vahe saw the long hours their fathers spent at night manually managing their small businesses, and each felt driven to develop technology to help their dads and others like them work differently and more efficiently.
Emboldened by our research and commitment to the market, Battery invested in ServiceTitan’s Series B financing round. In 2018, we led the company’s Series C round and continued to support the company after that.
The Battery Impact:
- After investing and joining the board, Battery helped ServiceTitan bolster organic growth and expand its addressable market. While the company’s software first served plumbers, HVAC professionals and electricians, it later expanded, partly through acquisitions, into adjacent areas like roofing, lawn care, pest control and commercial service. Battery actively helped the company source and diligence new, add-on acquisitions before ServiceTitan brought that function in-house.
- ServiceTitan has also developed a robust, integrated payments business, which according to the company’s public regulatory filings constituted more than 20% of its revenue in its quarter ended Oct. 31, 2025. Battery helped advise the company on building the payments business, as it’s something many of our companies have done over the years.
- All this helped ServiceTitan grow: The company had less than $20 million in annual revenue when Battery first invested, but reported annual revenue of $614 million for the fiscal year ended January 31, 2024, according to its S-1 at the time of its IPO.
- Battery also assisted with executive recruiting, helping introduce ServiceTitan to key executives such as a new vice president for sales, CMO and CFO.
Outcome:
ServiceTitan went public on the Nasdaq, under the ticker symbol TTAN, on Dec. 12, 2024.
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