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At a Glance
It was a big day for ServiceTitan. It entered an acquisition agreement to acquire Aspire Software (terms undisclosed) and raised $200M at a $9.5M valuation from Thoma Bravo. This marks ServiceTitan’s second acquisition in the last one year and also its largest to date. Together, the companies would aim to make contractors’ lives easier.
ServiceTitan, a software company built to accelerate the home and commercial service industries, has entered a definitive agreement to acquire Aspire Software, a landscaping business management software provider. Alongside the acquisition, the company announced its $200 million Series G funding from Thoma Bravo at a valuation of $9.5 billion.
This acquisition marks ServiceTitan’s second investment in the last twelve months (previously ServicePro) and its largest to date. The company said that Aspire’s customers could expect some product enhancements immediately and, over time, could access ServiceTitan’s suite of ‘Pro Products’ for a better customer experience.
Aspire Software, founded in 2014, helps landscaping contractors grow their businesses, double the size of the industry average with an increased margin. Its cloud-based SaaS solution helps landscapers manage, create, and execute their business opportunities against the challenges.
Ara Mahdessian, co-founder and CEO of ServiceTitan, said in a statement to the press that both ServiceTitan and Aspire Software look to improve the lives of contractors who work tirelessly but are underserved by technology.
“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,”Mr. Mahdessian said.
Mark Tipton, co-founder and CEO of Aspire, expressed delight at the acquisition and stated that joining forces with ServiceTitan would revolutionize the landscaping industry with best-in-class software.
“ServiceTitan has an amazing track record building the most successful software business in the trades. With their support, we’ll be able to invest more than ever before into product development, customer support, and growth. As a result, we’ll dramatically accelerate our mission of making contractors successful,”Mr. Tipton said.