
Revenue
$576.92M
2023
Valuation
$7.55B
2024
Growth Rate (y/y)
24%
2024
Funding
$4.30B
2024
Revenue
ServiceTitan hit $772M in implied annual recurring revenue (ARR) in 2024, growing 24% year-over-year.
The company maintains high retention with enterprise customers (>95% gross retention rate) and serves approximately 8,000 active customers across their platform, including major accounts paying over $100K annually who represent more than 50% of total billings.
ServiceTitan's revenue model combines several streams: subscription platform revenue (71% of total revenue), usage-based FinTech revenue (25%), and professional services revenue (4%).
The company averages $78K in revenue per active customer, significantly higher than many vertical SaaS peers. Active customers are defined as those with over $10K in annualized billings and represent 96% of total billings.
Their shift from basic workflow software to a comprehensive operating system has transformed unit economics.
While competitors often focus on single workflows or point solutions, ServiceTitan's end-to-end platform covering sales, dispatch, payments, and operations enables stronger margins. The company's non-GAAP gross margins have reached 70%, with platform margins even higher offset by negative professional services margins as they invest in customer success.
Valuation
ServiceTitan was last valued at $7.55B in their 2024 Series H-1 which raised $24M.
Based on 2024 ARR of $772M, the company trades at a 9.8x revenue multiple.
ServiceTitan has raised over $4.3B in total funding from prominent investors. Key backers include Thoma Bravo, Tiger Global Management, and Sequoia Capital Global Equities. The company's investor base also includes notable firms like Bessemer Venture Partners and Battery Ventures.
Product

ServiceTitan launched in 2012 as vertical software for plumbing, electrical, and HVAC businesses, giving owners a SaaS dashboard master view into their cash flow, scheduling, and marketing performance, along with a mobile app for technicians to access customer information in the field.
ServiceTitan provides owners and managers with access to real-time dashboards and reports that provide insights into financial performance, operational efficiency, and customer satisfaction metrics. A CRM tool helps track all customer interactions, maintain customer history, and manage follow-ups, ensuring personalized and timely customer service. Lastly, ServiceTitan offers tools for marketing automation, lead tracking, and conversion optimization, enabling businesses to attract new customers and increase sales with targeted campaigns and promotions.
ServiceTitan's mobile app equips field technicians with all the information they need on the go, including job details, customer history, and route information. Technicians can update job statuses, capture before/after photos, and process payments directly from the field.
Dispatchers can use ServiceTitan's drag-and-drop dispatch board allows dispatchers to assign and reassign jobs efficiently based on technician skill set, location, and availability, optimizing travel time and ensuring timely service.
Across all functions, ServiceTitan helps manage inventory in real-time, tracking the usage of parts and equipment for jobs, which is crucial for both field technicians and the back office to ensure availability and manage costs.
And with integrated calling, texting, and emailing, everyone in the organization can communicate effectively with customers and each other.