November 15, 2018 - 14:35 AMT
PanARMENIAN.Net - ServiceTitan, a startup out of Glendale, Calif. that has built a software platform for home services businesses — in areas like air conditioning, plumbing and electrical repairs — to manage their work, has raised $165 million in what it claims is the “largest software raise in Southern California history,” TechCrunch says
The company, created by two Armenian Americans - Ara Mahdessian and Vahe Kuzoyan - has confirmed that its valuation is now at $1.65 billion — making it the newest unicorn out of the region.
The funding will be used for bringing on more talent — it’s already hired from Google, Netflix, Adobe and Accel — as well as business development and to build more software to fill out a vision of becoming “the operating system for home services.”
ServiceTitan was co-founded by Mahdessian and Kuzoyan in 2012 after they met on a ski trip organized by the Armenian student associations at Stanford and the University of Southern California when they were still in college. The startup was borne out of work both were doing after college to build software to help their fathers, who worked in air conditioning contracting, run their businesses.
As reported earlier, ServiceTitan is exploring the possibility of opening an engineering office in Armenia.