(Reuters) -Software startup ServiceTitan is seeking a valuation of up to $5.16 billion in its U.S. initial public offering, it said on Tuesday, in what could be one of the final few flotations of the year that saw a revival in the market for new listings.
Glendale, California-based ServiceTitan is looking to raise up to $502 million by offering 8.8 million shares priced between $52 and $57 each.
ServiceTitan will join a handful of venture capital-backed firms, including social media platform Reddit and cybersecurity software firm Rubrik, which have all gone public this year.
ServiceTitan - whose rivals include software vendors Salesforce, SAP, and Jobber - was incorporated in 2007 as LinxLogic. It first launched its platform in 2012 and was renamed to ServiceTitan in 2014.
While it fetched a $9.5 billion valuation during the 2021 fundraising boom, ServiceTitan was valued at $7.6 billion after a 2022 funding round, PitchBook data showed.
ServiceTitan will be listed on the Nasdaq under the symbol "TTAN."
No comments:
Post a Comment