The multi-billion-dollar home services industry is potentially a huge market and it is driven by hundreds of small businesses. The requirements of this industry are huge and often they require solutions much like the larger industries. ServiceTitan, a California based company is delivering solutions that fill a major software gap in this market.
ServiceTitan was founded in 2012 by co-founders Ara Mahdessian and Vahe Kuzoyan. While many companies have a great back story, ServiceTitan’s story is that of seizing the opportunity when it presents itself.
Living the American Dream
America is the land of opportunities and the land of immigrants. It has always been like this as immigrants from all over the world have forever looked west for opportunities and a better life. The U.S. has been a superpower for a long time and the immigrants from faraway lands have played a very important role in making the country what it is today. ServiceTitan’s story is closely intertwined to America and its embracing nature. The company’s story perhaps began when its co-founders’ families came to America.
Ara Mahdessian and Vahe Kuzoyan’s (ServiceTitan co-founders) families came to the U.S. in the 1980s in search of a bright future. They did so with no money and no language skills. But so was the resilience and drive of these families that they worked extremely hard to build a life in the country from nothing. Their parents did everything to put the food on the table like so many immigrant families before them. Eventually, with persistence, they began their own businesses and became successful.
As the co-founders’ fathers became successful as building and plumbing contractors they still had issues with their English and running the logistics of their growing business was a pain point. This is where the sons came into the picture.
When Ara and Vahe graduated from Stanford and USC, they decided to not take up high-paying Bay Area jobs. Instead, they went back home and utilized their skills to help their family businesses. The next 5-6 years saw the duo work ceaselessly on a software platform which today is widely popular as ServiceTitan. The company has come a long way considering it started out of a garage.
ServiceTitan today has grown to become one of the most important tools for companies across the U.S. and Canada. ServiceTitan is that quintessential one-stop-shop for home services businesses which can be used to run the whole operation from start-to-finish.
The company had a phenomenal 2018. In its Series D round, the company was able to raise as much as $165 million. The round was led by Nina Achadjian at Index ventures, along with new investors Dragoneer and T Rowe Price. Existing investor Iconiq, Battery and Bessemer also participated in the round. The amount raised in this round of funding was the largest for a vertical SaaS company and the largest SaaS round in the Southern California area.
There were reports in the media that ServiceTitan may soon be valued at $1 billion considering its huge market potential. After the Series D round, the company was valued at $1.65 billion which made the company one of the newest unicorns of the region.
While the company has grown in America and is trusted globally by more than 2,500 most successful home services companies, ServiceTitan is keen on helping the country where its story began, Armenia. Earlier this year, ServiceTitan opened its first office in Armenia with the hopes of investing in the community.
Both the co-founders are of Armenian descent and have a strong connect to their land of origin. With the new office in Armenia, ServiceTitan aims to contribute to the education of the labor force and to provide opportunities for the best talent in the country.
The company that recruited its first employee in 2012 has grown in large proportions in a short frame of time. Today, it has over 600 employees in its workforce and continues its fantastic growth story.
Ara Mahdessian, CEO and Co-Founder
His success story is that of someone who has realized his American dream. His family immigrated to the U.S. in search for better opportunities. Along with Vahe Kuzoyan, Ara Mahdessian co-founded ServiceTitan to help homes services companies in 2012.
Ara Mahdessian graduated from the prestigious Stanford University.
“We’ve seen an improvement in efficiency within every department of our company. We’ve been able to take more steps toward being paperless using ServiceTitan.” –Thornton & Grooms
“We grew 87% last year. The year before that I grew 60%. Those are real numbers. I couldn’t have grown 87% without ServiceTitan.” –Lee’s Air
“With ServiceTitan, we’re able to measure growth projections and know exactly where we're at and stay up to date. We'd be ages behind from where we are currently without ServiceTitan.” –Tiger Services