ServiceTitan Files for Proposed IPO

ServiceTitan (TTAN) has filed for a proposed IPO.

The company describes itself as: "We are modernizing a massive and technologically underserved industry—an industry commonly referred to as the “trades.” The trades consist of the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. Tradespeople—like your local plumber, roofer, landscaper, HVAC technician and others who are employed in the trades—are immensely skilled and extensively trained. They are the essential, unsung heroes who work tirelessly to ensure that our needs are met where we live or work, ready at a moment’s notice to leave their families in the middle of the night to go across town to help others. The trades constitute a large, expanding cornerstone of our economy. There are hundreds of thousands of trades businesses providing essential services in every corner of the country. Based on internal analysis of industry data, we estimate the customers of trades businesses, which we refer to as “end customers,” spend approximately $1.5 trillion annually on trades services for homes and businesses in the United States and Canada alone."

Goldman Sachs, Morgan Stanley (NYSE:MS ), Wells Fargo (NYSE:WFC ) Securities and Citigroup (NYSE:C ) will serve as lead underwriters.

Source: Investing.com