July 2 2021 08:30 AM

The company has reached $9.5B valuation.

ServiceTitan, Glendale, California, entered into a definitive agreement to acquire Aspire Software, St. Louis, Missouri. The deal would represent ServiceTitan’s second acquisition announced this year, following the company’s acquisition of ServicePro.

ServiceTitan also closed $200 million in Series G financing, led by new investor Thoma Bravo, a software investment firm, that values the company at $9.5 billion.

“Both Aspire and ServiceTitan were born out of a desire to improve the lives of contractors who work tirelessly to serve their communities, but who have historically been underserved by technology,” says Ara Mahdessian, CEO and co-founder of ServiceTitan. “Mark and his team at Aspire have more than 500 years of combined experience in the commercial landscaping industry. Just like we built ServiceTitan to solve the problems our fathers faced, it’s that first-hand industry knowledge that has enabled Aspire to build the most powerful software in the industry with the highest customer satisfaction.”

Founded in 2013 by Mark Tipton and Kevin Kehoe, Aspire serves commercial landscapers that collectively count more than 50,000 users and perform roughly $4 billion in annualized transactions across landscaping, snow and ice, and construction. As a part of the acquisition, Aspire will continue to build its business in St. Louis with the support and investment of ServiceTitan.

“As the fastest-growing software solution for the trades with an unrelenting focus on customer success, ServiceTitan is poised to extend its leadership and capture increased market share as the industry exceeds $1 trillion globally,” says Robert (Tre) Sayle, a partner at Thoma Bravo. “ServiceTitan’s expansion into landscaping, a more than $100 billion market in the U.S. alone, is an important step on its path to provide all home and commercial tradesmen with the tools they need to grow and manage a successful business. We are excited to partner with ServiceTitan and to leverage our software and operational expertise to accelerate the company’s growth and build upon its strong momentum.”

ServiceTitan surpassed $250 million in annual recurring revenue in March, having grown more than 50% over the previous twelve months. With more than 1,600 employees worldwide, ServiceTitan has been named one of the best places to work by Inc. and the Los Angeles Business Journal for three straight years.

With the additional capital, ServiceTitan will continue to invest in research and development, growth and customer service, following the launch of the company’s customer support center in Salt Lake City in May. ServiceTitan is hiring across the board, particularly in customer support, sales, product and engineering.