ServiceTitan is a U.S.-based cloud‑software company powering the trades, from HVAC and plumbing to electrical and beyond, by delivering an integrated platform for scheduling, dispatch, payments, and customer engagement. On December 11, 2024, ServiceTitan priced its initial public offering at $71 per share. When trading began the next day, the stock surged - closing at $101 per share, a strong ~42 % increase, resulting in an initial valuation of approximately $8.9 billion and marking one of the most impressive SaaS IPO debuts of the year.
From May 2020 to Oct 2024, Equitybee facilitated the funding of stock option packages for seven ServiceTitan employees. Less than 2 months after the last employee was funded, ServiceTitan successfully went public via IPO, delivering positive returns to all investors.
The chart below compares the net internal rate of return (IRR) achieved by Equitybee platform investors with the estimated outcomes of investors who participated in ServiceTitan’s Series A3 through Series H funding rounds. Our estimates for venture round investors are based on: (1) the preferred share prices paid in each round (as outlined in the Timeline of Events), (2) ServiceTitan’s closing share price on the day the IPO lockup period expired, and (3) a 1:1 conversion from preferred to common shares at IPO.
Notably, the median net IRR for ServiceTitan offers on the Equitybee platform was 59.75%, outperforming investors in the company’s funding rounds since Series A3 - whose estimated IRRs ranged from 48.83% in Series A3 to -0.14% in Series G, with several rounds delivering the following IRR returns 42.47%, 33.25%, 25.12%, 27.07%, and 13.31%.
The table below showcases the returns yielded by all ServiceTitan offers via Equitybee after ServiceTitan’s IPO lockup period expired.
| Offer # | Avg Net MOIC | Avg Net IRR | Avg months to Liquidity | Funded Date | Offer Price | Interest | Share Incentive % | Distribution Date | Settlement Price |
|---|---|---|---|---|---|---|---|---|---|
| Offer #1 | 3.92 | 30.30% | 62.77 | 05/28/2020 | $8.4083 | 4.00% | 25% | 07/23/2025 | $102.8426 |
| Offer #2 | 2.38 | 35.85% | 34.37 | 10/11/2022 | $27.5823 | 3.00% | 40% | 08/01/2025 | $102.8426 |
| Offer #3 | 1.90 | 75.49% | 13.98 | 05/21/2024 | $41.2059 | 4.00% | 30% | 07/23/2025 | $102.8426 |
| Offer #4 | 2.01 | 85.21% | 13.73 | 06/07/2024 | $41.2059 | 4.00% | 45% | 07/23/2025 | $102.8426 |
| Offer #5 | 1.61 | 60.97% | 8.39 | 11/22/2024 | $40.9605 | 4.00% | 27% | 07/23/2025 | $102.8426 |
*Multiple on Invested Capital, net of fees, calculated as the avg MOIC between all investors participated in each offer.
**Internal Rate of Return, net of fees calculated as the avg IRR between all investors participated in each offer.
***Avg months to Liquidity, calculated as the avg time between invested date to the distribution date between all investors participating in each offer.
****Equitybee Offer price includes the employee’s weighted average exercise price plus the employee’s estimated tax obligation and potential additional funding
Past performance is not indicative of future results. 59.75% IRR represents the median IRR experienced by investors who utilized Equitybee to fund employee stock options in ServiceTitan. Net IRR is shown net of all applicable fees. IRR figures are calculated for each offer on the Equitybee platform from the date the investor's funds were transferred to the employee (funded date) through the distribution date of proceeds. If the distribution date was less than one year after the funded date, the IRR represents an unannualized return. For distributions one year or more after the funded date, IRR is annualized.
ServiceTitan public share prices sourced through Yahoo! Finance. Equitybee is not affiliated or associated with, or endorsed by, any of the companies mentioned herein. Equitybee executes private financing contracts (PFCs), private placements which are speculative, illiquid, contain substantial risk and may result in the complete loss of capital to the investor. These risks may be greater during extreme market conditions. PFCs do not grant or transfer ownership of startup company stock. When a liquidity event occurs at a price per share less than the investment price per share, Investors will first receive all available funds to recoup the original investment amount. The employee will not receive any proceeds in this event. A private offering of interests will only be made pursuant to a confidential private placement memorandum, an operating agreement, and other subscription documents (“Other Documents”), which will only be furnished to qualified investors on a confidential basis at their request for their consideration in connection with such offering. For accredited investors only. Securities offered through EquityBee Securities, LLC, member FINRA.
Fundraising round information sourced via Pitchbook, Inc.
Fundraising round information sourced via Pitchbook, Inc.
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Past performance is not indicative of future results. Private placements are speculative, illiquid, contain substantial risk and may result in the complete loss of capital to the investor. Consult your tax accountant as there may be tax considerations on profit amounts. Results may vary with each use and over time. Investor proceeds may be settled in cash or shares. Data calculated based on the Israel market reflects offers from June 2018 through July 2025; the US market reflects offers from March 2020 through July 2025.