Software startup company ServiceTitan (TTAN.US) has increased its IPO price to $65 to $67 per share, raising a total of $589.6 million.

The software startup company ServiceTitan (TTAN.US) plans to conduct its initial public offering (IPO) in the United States in 2024, at the time of the capital market recovery, aiming for a valuation of up to 5.95 billion US dollars by raising the stock issuance price. The company plans to sell 8.8 million shares of stock, raising the price range to $65 to $67 per share, with an expected total fundraising amount of 589.6 million US dollars, higher than the previous top-end price range of 502 million US dollars. ServiceTitan, founded by Ara Mahdessian and Vahe Kuzoyan, has become the leader in the software market used by technicians in the heating, ventilation, and air conditioning (HVAC) industry. The company, headquartered in Glendale, California, will be listed on the Nasdaq under the stock symbol "TTAN". The IPO is led by Goldman Sachs Group, Inc., Morgan Stanley, Wells Fargo & Company, and Citigroup, with a syndicate of 14 companies responsible. ServiceTitan's listing will see it join the ranks of venture-backed companies that have already gone public this year, including the social media platform Reddit (RDDT.US) and the cybersecurity software company Rubrik (RBRK.US).