ServiceTitan Expands Into Landscaping With Plans To Acquire Aspire; Achieved a valuation of $ 9.5 billion


ServiceTitan also announced the closure $ 200 million in Series G financing, led by new investor Thoma Bravo, a leading software investment firm, which values ​​the company at $ 9.5 billion.

“Aspire and ServiceTitan were both born out of a desire to improve the lives of entrepreneurs who work tirelessly to serve their communities, but who have historically been underserved by technology,” said Ara Mahdessian, CEO and co-founder of ServiceTitan. “Mark and his team at Aspire have over 500 years of combined experience in the commercial landscaping industry. Just as we built ServiceTitan to solve the problems our fathers faced, it is this first-hand knowledge. industry hand that has enabled Aspire to build the industry’s most powerful software with the highest level of customer satisfaction. “

Founded in 2013 by Mark Tipton and Kevin kehoe, Aspire helps landscaping contractors grow twice as fast as the industry average while increasing their margins. The company powers hundreds of commercial landscapers who collectively have over 50,000 users and perform approximately $ 4 billion in annualized transactions in landscaping, snow and ice, and construction. As part of the acquisition, Aspire will continue to develop its business in Saint Louis with the support and investment of ServiceTitan.

As the fastest growing software solution for the trades with a constant focus on customer success, ServiceTitan is poised to expand its leadership and capture increased market share as the industry surpasses 1000 billion dollars globally, ”said Robert (Tré) Sayle, partner at Thoma Bravo. “ServiceTitan’s expansion into landscaping, a $ 100 billion market in the United States alone, is an important step on the way to providing all home and business artisans with the tools they need to develop and run a successful business. We are excited to partner with ServiceTitan and leverage our software and operational expertise to accelerate business growth and leverage its strong momentum. “

Founded with a mission to help hardworking entrepreneurs achieve the level of success they deserve, ServiceTitan has announced that it has surpassed $ 250 million annual recurring revenue in March, having grown by over 50% over the past twelve months. With more than 1,600 employees worldwide, ServiceTitan has been named one of the Best Places to Work by Inc. and the Los Angeles Business Journal for three consecutive years.

With the additional capital, ServiceTitan will continue to invest in research and development, growth and customer service, following the launch of the company’s customer support center in Salt lake city in May. ServiceTitan hires the best talent in all fields, especially in customer support, sales, product and engineering.

About ServiceTitan
ServiceTitan® is a software company designed to accelerate the home and business service industries. The company’s end-to-end software suite includes CRM, intelligent dispatch, custom reports, marketing automation, a mobile solution for field technicians, and accounting, payments and finance integrations. By bringing a fully operational modern SaaS infrastructure to an industry traditionally underserved by technology, ServiceTitan is having a direct and positive impact on the lives of thousands of entrepreneurs and their extended teams. ServiceTitan is backed by world-class investors including Thoma Bravo, Tiger Global Management, Bessemer Venture Partners and ICONIQ Growth.

About Aspire software
Aspire Software offers business management software for landscaping, snow and ice, and construction companies. Aspire’s cloud-based SaaS solution helps landscapers manage, create and execute their business opportunities and challenges. Aspire helps landscapers change the way they run their business to enable them to provide better service, improve margins and increase productivity. Backed by Mainsail Partners, a leading growth equity investor, Aspire is based at Chesterfield, Missouri. For more information, please visit http://www.youraspire.com.

About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than 78 billion dollars in assets under management at March 31, 2021. The company invests in innovative and growth-oriented companies operating in the software and technology sectors. Leveraging the company’s in-depth industry expertise and proven strategic and operational capabilities, Thoma Bravo works with its portfolio companies to implement operational best practices, drive growth initiatives and complete accretive acquisitions aimed at accelerate revenues and profits. Over the past 20 years, the firm has acquired more than 300 companies representing more than $ 85 billion in enterprise value. The company has offices at Chicago, Miami and San Francisco. For more information visit thomabravo.com.

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SOURCE ServiceTitan

Related links

http://www.servicetitan.com

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