Jason M. LemkinCEO, SaaStr · Co-Founder of SaaStr AI, SaaStr Fund, Adobe Sign

The Jaw-Dropping Success of Service Titan: The Next IPO to Watch!

17 Jan 2024 · 1 min

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0:54

Short YouTube commentary by Jason M. Lemkin praising ServiceTitan as a leading SaaS company for HVAC and plumbing trades, highlighting rapid growth, strong unit economics, and potential imminent IPO. Key claims: >$500M in revenue, ~12,000 customers, triple-digit NRR despite low ACV in a tough vertical, ended last year at $460M revenue, currently ~ $600M ARR, growing ~40–50% and cash-flow neutral/positive. Speaker predicts ServiceTitan may be the next company to IPO (possibly Q1).

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Service titan may be the first one to go IPO of this group. Service titans jaw dropping the good company jaw dropping the good right Service such a good company. Jason Service titan has dominates a market. Service Titan's at over 500 million in revenue. It's cash flow positive as I understand it. It's got 12,000 customers and it does something which is magical which is that it has very high NRR at a low ACV in a tough vertical market. It is SaaS for plumbers and air condition maintenance and other things and it has triple digit NRR in that market and it ended last year at 460 million in revenue probably so today. Today it's at 600 million in ARR selling H Vac software and Plumber software growing 40 to 50% cash flow neutral. I think it'll be the next one to IPO and some people think it'll be it could be in Q1 but that's one where it's just time right.