(Bloomberg) — Home service software business ServiceTitan Inc. is planning to file as soon as next week for an initial public offering, according to people familiar with the matter.
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The Glendale, California-based company is aiming to go public before the end of the year, the people said.
The details and timing of the company’s plans could still change, said the people, who asked not to be identified discussing private information. A spokesperson for ServiceTitan didn’t immediately respond to a request for comment.
ServiceTitan is backed by firms including Index Ventures, Bessemer Venture Partners, Battery Ventures and Thoma Bravo. Though valued at as much as $9.5 billion during the 2021 boom, the company had a valuation of about $7.6 billion after a 2022 funding round, according to data provider PitchBook.
ServiceTitan sells software to small businesses in the home and commercial contractor market. Its product aims to improve the efficiency of construction projects and other service visits.
ServiceTitan’s offering will be watched closely by Silicon Valley investors. After several slow years for venture-backed IPOs, Reddit Inc., Rubrik Inc. and Ibotta Inc. braved the public markets earlier this year, and found Wall Street sentiment mixed. A favorable debut for ServiceTitan could help encourage more offerings.
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