ServiceTitan Completes $625 Million Initial Public Offering
12.17.24
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Simpson Thacher represented the founders of ServiceTitan, Inc. (“ServiceTitan”) in connection with various matters related to the ServiceTitan’s initial public offering of Class A common shares at a price of $71 per share. A total of 8.8 million Class A common shares were sold in the offering, raising approximately $625 million in gross proceeds. ServiceTitan’s shares rose 42% to $101 per share in its Nasdaq debut giving the cloud-based software company a valuation of nearly $9 billion.
ServiceTitan is a cloud-based software developer designed to accelerate the home and commercial services industries. The company's software offers end-to-end systems that include customer relationship management, intelligent dispatch, custom reporting, marketing automation with field techs and accounting, payments, and financing integrations.
The Simpson Thacher team includes Heidi Mayon and Jesse Feng (Capital Markets); and Tristan Brown and Guanxiong Xu (Executive Compensation Employee Benefits).