ServiceTitan mulling IPO before year-end

ServiceTitan could hit the public market before the end of this year, ION Analytics reported.

Catch up: The company, which will reportedly generate over $700 million in revenue this year, filed for an IPO in 2022 — seeking an $18 billion valuation — but soon after scrapped its plans.

What’s happening: In December 2023, Reuters reported that ServiceTitan had resumed preparations, targeting a debut this year, though plans could change.

• The company has been waiting for “favorable market conditions,” according to an investor, and is now eyeing a December window, given the stock market’s recent performance and the presidential election being in the rearview.
• It was last valued at $7.6 billion in 2022, according to PitchBook.

Yes, but: While this year is a possibility, the company may also wait until 2025, sources told ION Analytics.

The bottom line: While the timing’s a toss-up for now, we’ll likely see ServiceTitan trading as a public company within the next 12 to 18 months.

Editor’s note: This article has been updated to reflect the latest information.