Who Owns ServiceTitan Company?

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Who Really Calls the Shots at ServiceTitan?

Unraveling the ServiceTitan SWOT Analysis is just the beginning; understanding its ownership is key to grasping its future. As a leading software provider for the trades industry, ServiceTitan's trajectory is significantly shaped by its ownership structure. From its inception to its recent IPO, the evolution of ServiceTitan ownership tells a compelling story of growth, strategy, and control.

The ServiceTitan company story began with founders Ara Mahdessian and Vahe Kuzoyan, who saw an opportunity to revolutionize the trades industry. Now a publicly traded entity, the ServiceTitan ownership structure has transformed, involving a complex interplay of ServiceTitan founder influence, institutional investors, and public shareholders. This analysis will explore the key players, including ServiceTitan investors and ServiceTitan management, and the mechanisms that govern this dynamic organization, answering questions like "Who is the CEO of ServiceTitan" and "Is ServiceTitan a public company?"

The story of ServiceTitan, a leading software provider for the trades, began in 2007. The company was founded by Ara Mahdessian, who currently serves as CEO, and Vahe Kuzoyan, the President.

Their initial inspiration stemmed from observing the challenges their fathers, both contractors, faced in managing their businesses. This firsthand experience fueled their vision to create a better solution for the trades.

The founders initially developed a software toolkit to assist their family businesses. This early focus on solving real-world problems laid the foundation for the cloud-based ServiceTitan platform launched in 2012.

Founding Vision

Ara Mahdessian and Vahe Kuzoyan founded the company. Their goal was to address the operational challenges faced by contractors.

Early Development

The initial software was designed to meet the needs of their fathers' contracting businesses. This direct involvement ensured the software addressed real-world issues.

Seed Funding

In 2014, ServiceTitan secured seed funding from Mucker Capital. This early investment helped fuel initial growth.

Cloud Platform Launch

The cloud-based ServiceTitan platform was launched in 2012. This marked a significant step in the company's evolution.

Commitment and Vision

The founders' hands-on approach and their commitment to solving the challenges of the trades were key factors in the company's early success.

Initial Focus

The primary focus was on creating a software solution tailored for contractors, addressing their specific operational needs.

Early Ownership and Impact

While the exact equity distribution in the early stages is not publicly available, the founders' direct involvement and the initial seed funding from Mucker Capital set the stage for future investment rounds and the company's growth. The founders' vision and commitment were instrumental in shaping ServiceTitan's trajectory. The company has seen significant growth since its inception, attracting substantial venture capital.

• Ara Mahdessian and Vahe Kuzoyan founded the company.
• The initial focus was on solving problems for contractors.
• Mucker Capital provided seed funding in 2014.
• The cloud platform launched in 2012.

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The ownership structure of the ServiceTitan company has undergone a significant transformation, particularly with its transition to a publicly traded entity. Before its initial public offering (IPO) in December 2024, the company secured nearly $1.4 billion in equity capital through eight funding rounds involving venture and crossover investors. A notable event was the $500 million Series G round in March 2021, which valued the company at $8.3 billion.

The IPO on December 12, 2024, marked a pivotal moment, with ServiceTitan offering 8.8 million shares of its Class A common stock at an initial price of $71.00 per share. This offering raised approximately $625 million. The stock began trading on Nasdaq under the ticker 'TTAN', opening at $101 per share. This transition to a public company significantly broadened the ownership base, introducing a mix of institutional and individual investors.

As of March 31, 2025, there are 297 institutional owners and shareholders of ServiceTitan. Key institutional investors with disclosed ownership in ServiceTitan's Class A common stock include ICONIQ Capital, LLC, holding 15,510,988 shares, representing 19.4% of Class A shares as of November 2024, valued at approximately $1.6 billion as of December 16, 2024; Deer Management Co. LLC (Bessemer Venture Partners) with 9,001,101 shares, representing 11.2% as of November 2024, valued at approximately $948 million as of December 16, 2024; TPG GP A, LLC, owning 5,107,469 shares, representing 5.2% as of November 2024, valued at about $538 million as of December 16, 2024; and Battery Management Corp., holding 4,827,441 shares, representing 6.0% as of November 2024, valued at about $508 million as of December 16, 2024. The co-founders, Ara Mahdessian and Vahe Kuzoyan, maintain substantial control through their ownership of all Class B common stock, which represents approximately 64% of the total voting power as of the IPO completion, ensuring their continued influence over the company's strategic direction and governance.

Key Takeaways on ServiceTitan Ownership

ServiceTitan's ownership structure has evolved significantly, particularly after its IPO in December 2024.

• ICONIQ Capital, LLC, and Bessemer Venture Partners are among the major shareholders.
• The co-founders retain significant control through Class B common stock.
• The IPO raised approximately $625 million, broadening the investor base.
• As of March 31, 2025, there are 297 institutional owners and shareholders.

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The governance of the ServiceTitan company is structured around a multi-class share system, which concentrates voting power with its co-founders. This structure is particularly relevant after the company's IPO. The company's stock is divided into three classes: Class A, Class B, and Class C. Class A shares have one vote each, while Class B shares have ten votes each. Class C shares have no voting rights, except as required by law, and were not issued upon the IPO's completion.

Co-founders Ara Mahdessian, the CEO, and Vahe Kuzoyan, the President, hold all Class B common stock. As of the IPO, the co-founders controlled approximately 64% of the total voting power. This could increase to approximately 75% if all equity awards held by the co-founders were exercised or vested and settled in Class B common stock. This concentrated voting power allows the co-founders to significantly influence or control any action requiring stockholder approval, including the election of the board of directors, amendments to the company's charter and bylaws, and major corporate transactions such as mergers or asset sales. This structure impacts ServiceTitan ownership and control significantly.

SEC filings from May 2025 indicate that Ara Mahdessian is a Class I director, serving until the 2028 annual meeting of stockholders. Other Class I directors, including Tim Cabral and William Hsu, are also elected to serve until the 2028 annual meeting. The board typically includes representatives from major shareholders and independent seats, though the dual-class structure ensures founder control. The current board composition reflects the influence of ServiceTitan founder and key ServiceTitan management.

Voting Power and Board Control

The dual-class share structure gives significant voting power to the co-founders. This arrangement allows them to maintain control over major corporate decisions, even after the IPO. This structure impacts the influence of ServiceTitan investors and the overall ServiceTitan company governance.

• Co-founders control approximately 64% of the voting power.
• Class B shares hold 10 votes each.
• Class C shares have no voting rights.
• The Board includes representatives from major shareholders and independent seats.

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Over the past few years, the ownership of the ServiceTitan company has seen significant shifts, most notably with its initial public offering (IPO) in December 2024. This transition to a public company, trading on Nasdaq under the symbol 'TTAN,' has introduced public shareholders. However, the founders retain substantial control through a dual-class share structure. As of June 2025, the market capitalization of ServiceTitan is approximately $9.4 billion.

The company's financial performance reflects its growth trajectory. For the fiscal year ending January 31, 2025, ServiceTitan reported revenue of $771.88 million, a 25.64% increase from the prior year. The first quarter of fiscal year 2026, which ended April 30, 2025, saw total revenue reach $215.7 million, marking a 27% year-over-year increase. This financial success and the IPO have reshaped the company's ownership landscape, attracting significant institutional investment.

The shift towards a public entity has also been accompanied by strategic acquisitions. In April 2024, ServiceTitan acquired Convex, followed by Schedule Engine in June 2022 and FieldRoutes in January 2022. As of March 31, 2025, institutional investors hold 83.90% of ServiceTitan's shares. Looking ahead, the company anticipates continued strong growth, with full fiscal year 2026 revenue projected to be between $910 million and $920 million. The dual-class share structure helps maintain founder influence despite the dilution of economic interest from future Class C stock issuances.

ServiceTitan Ownership Structure

ServiceTitan has a dual-class share structure, where founders retain significant voting power. This structure allows founders to maintain control even with the introduction of public shareholders, as seen post-IPO.

Institutional Investors

Institutional investors hold a large portion of ServiceTitan's outstanding shares. As of March 31, 2025, institutional investors hold 83.90% of the total shares outstanding, indicating strong confidence in the company's growth.

Acquisition Strategy

ServiceTitan has expanded its offerings through strategic acquisitions. Recent acquisitions include Convex (April 2024), Schedule Engine (June 2022), and FieldRoutes (January 2022), demonstrating a trend of consolidation.

Financial Performance

ServiceTitan's financial performance is strong, with revenue increases year-over-year. The company reported $771.88 million in revenue for fiscal year 2025 and $215.7 million in Q1 FY2026.

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