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Software for Plumbers, Electricians Is $1.7 Billion Business (1)

Nov. 14, 2018, 7:22 PM

ServiceTitan Inc. is the newest startup unicorn out of the Los Angeles area, proving that even plumbing can be a billion-dollar technology business.

The company, which makes software for plumbers, electricians and other home-services companies, plans to announce Wednesday that it was valued at $1.65 billion in a new venture capital infusion. Index Ventures led the funding round, which totaled $165 million.

The deal adds to a growing list of Southern California startup success stories. But unlike consumer product makers Snap Inc., Sonos Inc. and Ring, ServiceTitan aims to be a backbone for basic, back-office functions. Co-founder Ara Mahdessian ...