ServiceTitan, the software company for the residential service business, has leased 125,000 square feet of office space at 800 N. Brand, a LEED® Gold Certified building, cementing their position as a keystone tech employer in Glendale.
This expansion, leased from Beacon Capital Partners, comes on the heels of the largest venture round of a SaaS company in the history of Southern California ($165 million Series D) led by Index Ventures, with participation from Dragoneer and T. Rowe Price and existing investors Battery Ventures, Bessemer Venture Partners and ICONIQ Capital.
“Last November was a historic milestone for ServiceTitan, as well as for vertical software and the tech industry based in Southern California,” said Ara Mahdessian, co-founder and CEO of ServiceTitan. “With the backing of some of Silicon Valley’s finest venture capital firms, we can expand our product offering to further invest in the success of our customers. With this new office expansion, we’ll be able to grow and develop teams that can deliver on new innovations and anticipate the demands of our customers so they can grow right along with us.”
ServiceTitan has roughly doubled in size over the past two years, and plans to grow to nearly 1,000 employees globally by the end of 2019. The company was recently named to Built In LA’s 2019 Best Places to Work list, has been named one of the best places to work by Inc. and the Los Angeles Business Journal, and placed on the Forbes Cloud 100 list of the world’s best private cloud computing companies. Recently ServiceTitan was named to Business Insider’s list of “44 enterprise startups to bet your career on in 2019” and was the only LA-based company to make the list. ServiceTitan’s revenue and growth metrics have resulted in valuation that makes the company a tech unicorn.
“Over the past three years, Glendale has implemented a robust tech strategy, including taking proactive steps to support local companies like ServiceTitan,” Glendale Mayor Zareh Sinanyan said. “We are extremely proud of the success and ongoing growth of ServiceTitan, and grateful to its co-founders, Ara and Vahe – two native sons of this community – for choosing to invest, and grow in Glendale. I look forward to seeing the ServiceTitan name on top of this iconic building, both as a reminder of their integral part of the early energy of our tech revolution, as well as their influential role as Glendale continues to expand and become a more vibrant hub in the region for technology and innovation.”
Plans to move into the new space are underway, with a grand opening event scheduled for later in 2019.
“We are looking forward to this next chapter,” Mahdessian said. “We’re on a mission to become the No. 1 tech employer of choice in Southern California, so if you’re passionate about changing lives and achieving the extraordinary, we’d love to share the journey with you.”
ServiceTitan currently has U.S. offices in Los Angeles and Atlanta and an office in Armenia, and is expected to grow substantially in 2019.
Source: PR Newswire