ServiceTitan IPO: Date, Price, Final Terms, S-1
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The ServiceTitan IPO date was Thursday, December 12th, 2024. The IPO price was $71 per share and the opening trade was $101 at 12:50 pm. ServiceTitan stock now trades on the Nasdaq under the stock symbol “TTAN“.
Several readers were long ServiceTitan before the IPO via the Fundrise Innovation Fund*. $10 minimum investment for U.S.-based investors 18+. Own additional private companies like OpenAI, Databricks, Canva, and Anduril.
Table of Contents
Recent News
12/12/2024: Opening Trade $101 at 12:50 pm ET
12/11/2024: ServiceTitan IPO Price = $71
12/10/2024: ServiceTitan IPO Price Range Increased to $65-$67
12/03/2024: ServiceTitan Amended S-1 Filing Available
Older news…
About ServiceTitan
ServiceTitan is a cloud software-as-a-service (SaaS) platform empowering home services businesses such as HVAC, plumbing, electrical, pest control, builders, and many other industries to manage their clients and employees.
The software supports all aspects of trade businesses, including marketing, scheduling, dispatch, payments, timesheets, payroll, and customer service management.
Founders Ara Mahdessian and Vahe Kuzoyan met on a college ski trip. Both were ethnic Armenian immigrants studying software engineering at Stanford and USC, respectively.
Each of their fathers owned residential contracting businesses. That summer, the duo teamed up to build software to help streamline their fathers’ businesses.
Founded in 2012 in Glendale, CA, the business has more than 11,000 customers, generating more than $200 in annual recurring revenue (ARR).
Here’s a video showing how various business owners use ServiceTitan to streamline their businesses. The video starts at 1:15 mark, where the software screen share activity begins.
IPO Terms
- IPO Date: 12/12/2024
- ServiceTitan Stock Symbol: “TTAN”
- Exchange: Nasdaq
- IPO Price: $71
- Opening Trade: $101
- Opening Trade Time: 12:50 pm ET
- Common Stock Offered: 8,800,000 Shares
- IPO Valuation: $6.3 billion
- Raise: $625 million
- Lead Underwriters: Goldman Sachs, Morgan Stanley
- IPO Roadshow: Available here.
ServiceTitan IPO Date
The ServiceTitan IPO date was Thursday, December 12th, 2024. The stock began trading at 12:50 pm ET. The first trade occurred at $101 per share.
What time do IPOs start trading?
Bookmark this page for the latest developments.
S-1 Filing
Here is a PDF version of the ServiceTitan S-1 Filing via the SEC.
The above version was published on December 3rd. Get the latest versions on the SEC website if and when new forms are released.
Ownership and Venture Capital
ServiceTitan is now a public company owned by shareholders.
It is was a private company until December 12th.
The company raised more than $1 billion leading up to the IPO and another $625 million in its public debut.
The last venture funding round, a Series G, was a $200 million raise tied to the Aspire acquisition (a landscaping software company) in June 2021.
Venture capital investors include Index Ventures, Dragoneer, T. Rowe Price, Battery Ventures, Bessemer Venture Partners, Thoma Bravo, Sequoia, Tiger Global, I2BF Global Ventures, Mucker Capital, AMENALAV, Fundrise, and ICONIQ Capital.
Pre-IPO Funding Rounds
| Round | Date | Est. Valuation | Raise Amount | Price |
|---|---|---|---|---|
| Series H | 11/21/22 | $7.37B | $365.00M | $84.57 |
| Series G | 06/29/21 | $9.50B | $200.00M | $118.96 |
| Series F | 03/24/21 | $8.30B | $500.00M | $107.32 |
| Series E | 05/07/20 | $2.25B | $73.82M | $33.80 |
| Series D | 11/13/18 | $1.65B | $165.00M | $26.29 |
| Series C | 04/12/18 | $825.00M | $62.00M | $14.55 |
| Series B | 03/14/17 | $322.50M | $80.00M | $6.06 |
| Series A | 06/15/15 | $100.00M | $18.96M | $2.11 |
| Source: Caplight |
Valuation
The ServiceTitan valuation was $6.3 billion heading into the IPO. The $101 opening trade set an initial market cap at about $9 billion.
The November 2022 Series H funding round established a ServiceTitan valuation of $7.37 billion. Pre-IPO marketplaces show little diversion from this valuation as of November 2024.
Stock Price
A public ServiceTitan stock price began trading on December 12th. The IPO price was $71 per share, up from a previous target of $65-$67 and $52-$57 before that.
The final private transaction on the Hiive marketplace took place in November 2024 at $41 per share. But overall trading volume was thin in 2024.
Caplight estimated the private share value at around $80 per share, suggesting a wide divergence of private market pricing.
How to Invest in ServiceTitan Stock
1. Buy the stock after the ServiceTitan IPO
Buy TTAN stock now that it is trading publicly.
I recommend TradeStation if you don’t already have a broker.
2. Own Shares via the Fundrise Innovation Fund
Owners of the Fundrise Innovation Fund had a stake in ServiceTitan before the IPO. It was one of the largest holdings at $10 million. Fundrise acquired shares opportunistically from a “motivated seller”.
The minimum to invest in the fund is $10. It is unclear if ServiceTitan will remain a fund holding.
The Fundrise Innovation Fund is a venture capital fund that buys large pre-IPO holdings for the fund and then opens the fund to ordinary investors. Non-accredited investors are welcome to own a piece of the fund.
Other notable holdings include OpenAI, Databricks, Canva, and Anduril.
It is unclear if Fundrise will liquidate or hold through the IPO. I anticipate they will be in for the long run and will continue to hold. The IPO does not change the investment thesis. But the fund is likely restricted from selling for 180 due to standard share lockups.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
3. Participate in the ServiceTitan IPO
*** It is too late to participate in the IPO ***
Shares were available. For future IPOs, consider the following:
Savvy IPO investors may find opportunities to invest during the IPO in December 2024. That means acquiring shares at the IPO price the night before the company begins trading.
Once reserved for Wall Street’s wealthiest customers, IPO access has become more attainable to retail investors in the past few years.
The following online brokers give customers free access to IPOs, even with low account balances:
- TradeStation
- Fidelity
As of December 4th, Fidelity and TradeStation (via the Click Markets app) are giving investors the opportunity to indicate interest. Investors can request shares at this time, but there is no guarantee of receiving an allocation.
Robinhood and SoFi appear to be shut out of this one.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
4. Participate in the ServiceTitan Directed Share Program (customers)
*** It is too late to participate in the IPO ***
Can ServiceTitan customers invest in the ServiceTitan IPO?
No. Underwriters and ServiceTitan removed “eligible customers” from the IPO filing, keeping shares with family and friends and the wealthy clients of Wall Street banks.
Now that the S-1 has become public, we find a directed share program. This allows certain individuals the chance to participate in the IPO.
At our request, and reflecting our desire to set aside a significant number of shares for certain of our customers, the underwriters have reserved up to 440,000 shares of our Class A common stock, or 5% of the shares offered in this offering, for sale at the initial public offering price through a directed share program to:
- individuals who reside in the United States and serve as the Chief Executive Officer, General Manager, Director, Vice President, a member of the C-suite, owner-operator or founder of one of our current customers;
- friends and family members of our Co-Founders;
Note: The phrase “Eligible customers, and certain other persons” was removed in the amended S-1 filing.
individuals who reside in the United States and serve as the Chief Executive Officer, General Manager, Director, Vice President, a member of the C-suite, owner-operator or founder of one of our current customers; and
When companies file their S-1 SEC filing (to begin the IPO process), they sometimes include a directed share program for executives, affiliates, and others who helped the company grow.
ServiceTitan can attribute its success to the small business owners that use its software to run service businesses. The company may use the IPO as an opportunity to reward customers.
This has happened before.
Uber offered shares to drivers that completed a certain number of trips.
GoPro offered shares to its email list.
Airbnb offered IPO shares to hosts.
Considering ServiceTitan’s homegrown roots, offering customers IPO access is a nice gesture. However, we’ll need to wait for an amended filing to learn who qualifies as an “eligible customer”.
If you’re a ServiceTitan customer, monitor your ServiceTitan emails as the ServiceTitan IPO approaches, especially after the S-1 filing becomes public.
You may get a shot at IPO shares.
ServiceTitan, if you’re reading this, please consider options to offer shares to your customers!
Bookmark this page for more information as the IPO approaches.
Frequently Asked Questions (FAQs)
Is ServiceTitan stock publicly traded?
Yes. ServiceTitan became a public company on December 12th, 2024.
What is the ServiceTitan stock symbol?
The ServiceTitan ticker symbol is “TTAN”.
Where is the ServiceTitan IPO S-1 Filing?
ServiceTitan released its S-1 filing to the public on November 18th, 2024, and amended it on December 3rd. Read it above or on the SEC website.
You can check out the most recent S-1 filings in our S-1 filings feed.
ServiceTitan News Archive
11/18/2024: ServiceTitan Releases S-1 Filing
11/26/2024: ServiceTitan has a ‘dirty’ term-sheet
11/25/2024: Here’s why ServiceTitan was on the clock to go public
11/15/2024: ServiceTitan Aims to IPO by End of 2024
04/30/2024: Synchrony and ServiceTitan Join Forces
12/19/2023: ServiceTitan prepares for 2024 IPO
02/16/2023: ServiceTitan Cuts 8% of Workforce
11/10/2022: ServiceTitan Held Talks to Raise Money at 20% Valuation Cut
01/25/2022: ServiceTitan filed confidential paperwork for an IPO
09/23/2021: ServiceTitan prepares U.S. IPO
06/30/2021: ServiceTitan acquires Aspire, raises $200M at a $9.5B valuation
03/26/2021: ServiceTitan Announces $500 Million Investment
05/16/2019: These Founders Built a Billion-Dollar Startup for Home Businesses
11/14/2018: ServiceTitan Secures 165m in Series D Funding
06/16/2015: ServiceTitan raises $18 million Series A at $100 million valuation
Conclusion
Investors get excited when they identify companies riding extraordinary macroeconomic trends (such as cloud and SaaS).
However, buying the stock early on can often prove difficult for retail investors.
Though pre-IPO investing platforms have opened more opportunities, private equity investing is still primarily reserved for accredited investors because of the added risk.
ServiceTitan is an outlier, as individual investors owned it ahead of the IPO through Fundrise.
Now that the IPO is completed, we can all invest in ServiceTitan. But maintain discipline. If you were not able to get IPO shares, be careful of chasing shares with inflated values.
If ServiceTitan stock is on your radar, good luck. Invest in pre-IPO and IPO companies with caution.
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Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
Risk Statement: Investing in IPOs and pre-IPO startups involves significant risk. Do not invest in companies based solely on what is included in this article. Only invest in IPOs and pre-IPO companies with money you can afford to lose. Access IPOs is for informational purposes only. Mentions of specific investments should not be construed as financial advice. Conduct personalized research and consider consulting with an investment advisor before investing.
