Bessemer Venture Partners

Today, we celebrate ServiceTitan on their IPO! 🚀 Congratulations to co-founders Ara Mahdessian (CEO), Vahe Kuzoyan (President), and the entire team on this incredible milestone. A decade in the making, ServiceTitan’s journey was inspired by Ara and Vahe’s fathers, who owned trades businesses. Ara and Vahe went on to build ServiceTitan to empower home service companies with the power of software. On behalf of Byron Deeter, Talia Goldberg, and Sameer Dholakia, we at Bessemer celebrate everyone who is part of the ServiceTitan journey. Get the backstory on our 𝐒𝐞𝐫𝐢𝐞𝐬 𝐀 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 and the unforgettable moments that led to today. https://lnkd.in/gqVAeWFY #ServiceTitanIPO #Entrepreneurship #VerticalSaaS

$20M Series A ✨ a milestone that feels surreal to share. Back in July 2023, I was walking around San Francisco, talking to an AI therapist I'd cobbled together. It was clunky and barely worked, but it kind of worked. Why was building voice AI so hard? Funny enough, this frustration became Vapi. We went all in. October 2023: 6 brave startups took a chance on us March 2024: Product Hunt launch that started everything Today: Millions of calls processed daily, 100,000+ developers building with us The numbers are wild, but they don't tell the full story. What gets me excited? Seeing developers build things we never imagined. Like a health assistant that that can help patients in their native language all while sounding genuinely... human. To our team: You're the real MVPs. From Blue Bottle Coffee runs to late night dark mode sessions- every step with you has been worth it. Massive thanks to Bessemer Venture Partners for leading this round, and to Abstract Ventures Inc., AI Grant, Y Combinator, Saga Ventures, and Michael Ovitz for joining our mission. Voice is the most natural form of human expression, yet we've been stuck behind screens and keyboards. At Vapi, we're changing that, one API call at a time. Excited to have Michael Droesch and Byron Deeter join the board! And a special shoutout to our advisors, Mitch Morando, Richard Ni, and Justin Bauer, to name just a few!

We're excited to partner with Vapi, the team that provides a 10x improvement on the development experience for voice agents! Vapi's elegant platform solves the hard engineering problems required to manage real-time voice infrastructure and build enterprise-grade voice agents, including the orchestration of third-party speech-to-text (STT) models, LLMs, and text-to-speech (TTS) models. Congratulations to the team on their Series A fundraise! 🎙🌟 Read more in our announcement: https://lnkd.in/eQXx6z6R Byron Deeter Michael Droesch Aia Sarycheva Sam Bondy Darsh Patel Libbie Frost

A historic day for ServiceTitan—congratulations on your IPO! 🚀 I’ve had the absolute privilege of watching ServiceTitan through seasons of growth, and their story will go on to inspire tomorrow’s Vertical SaaS and AI founders. (I joined ServiceTitan as an outside board member during my tenure as SendGrid’s CEO and became even more involved after joining Bessemer as a Partner.) Witnessing Ara Mahdessian and Vahe Kuzoyan's leadership throughout the years has been incredible — they are true role models for other founders and CEOs!  Takeaways for CEOs: ✅ ServiceTitan’s journey is a masterclass in how a cloud company can achieve transformative growth. From ServiceTitan’s beginnings as a platform designed to empower home-service professionals, Ara and Vahe have led the charge in expanding not just their product suite but also their vision. ✅ ServiceTitan is a shining example of what we call “leapfrogging” to expand their TAM — a strategic Second Act where a business expands into new verticals by building on its initial foundation. Starting with core trades like plumbing and HVAC, ServiceTitan leveraged its trusted reputation and deep customer insights to grow into adjacent industries like residential water treatment, landscaping, pest control, and beyond. ✅ What’s more, the team didn’t stop at expanding verticals—they layered on innovative products to meet customer needs at every turn. Fintech solutions like payments and financing, Pro Products such as marketing and payroll, and other key acquisitions have all bolstered the platform’s capabilities, driving massive value for customers and scaling the business to Centaur status and beyond. This milestone isn’t just a win for ServiceTitan—it’s a win for the home services industry as a whole. It demonstrates how much value can be created when founders combine deep customer empathy with operational excellence and an ambition to solve the next set of problems. To Ara, Vahe, and the entire ServiceTitan team: Congratulations on building not just a company, but a generational platform that empowers the unsung heroes of home services. I can’t wait to see what’s next! Read the full story from my partner, Byron Deeter: https://lnkd.in/gk85dBKW #ServiceTitanIPO #Scaling #VerticalSaaS

In 2014, smartphones were ubiquitous but most software was built for office workers in front of PCs. We had a thesis on software for the deskless worker, enabled by mobile. That led us to ServiceTitan It’s been nearly a decade since we partnered with Ara Mahdessian and Vahe Kuzoyan. Two themes stand out from the journey: Maniacal customer obsession. Ara and Vahe grew up in the industry. Check out the S-1 photo with their dads. They will not stop until they improve the lives of every trade professional. I remember visiting their office one day, and Ara’s dad stopped by in his work jumpsuit beaming with pride. Ara was in a formal suit. Both suited up for business. ServiceTitan’s success depends on its customers success. The team is obsessed with ROI and making its customers successful. Businesses that operate on ServiceTitan grow faster. The top quartile of customers by utilization grow 20% per year. Great entrepreneurs expand their markets.   When we first invested, ServiceTitan was just in residential plumbing, hvac, and electrical with one core product. It now serves >10 trades and has a large product suite. Today they have crm, erp, fintech, hcm, and field service management. The company has increased the percent of GTV that it captures over time. Today it captures 1%, but if their full product suite is deployed, it’s 2%. And they are just getting started. Thank you Ara and Vahe for giving the trades the sexy software it deserves, and for building mission critical products that power everyday life. $TTAN!

Congratulations, ServiceTitan, on your IPO! 🚀✨ From Series A to today, it has been an incredible privilege to be part of this journey and witness your remarkable leadership, Ara and Vahe! Co-founders and leaders, CEO Ara Mahdessian and President Vahe Kuzoyan, have built a vertical SaaS powerhouse, transforming the home services industry and bringing it into the digital age. Their story is deeply personal. Ara and Vahe are Armenian Americans who emigrated to the U.S. as children. Their fathers worked in the home-service trades, and they grew up watching them rise at dawn, work tirelessly all day, and spend their evenings buried in paperwork—manually handling invoices, scheduling, and other business tasks. That lived experience sparked Ara and Vahe’s passion and continues to fuel ServiceTitan’s mission: to empower the hard-working professionals who keep our homes running. ServiceTitan is often described as a radically customer-first company. Ara and Vahe’s empathy and respect for home service professionals permeate every corner of the business. By deeply listening to their customers’ needs, they’ve created solutions that drive loyalty and fuel growth at every stage. This level of founder-market fit is a rare and undeniable advantage. Building great software takes intellectual horsepower and technical expertise, but combining that with deep industry knowledge and unwavering customer focus? That’s the magic formula. ServiceTitan’s success is also rooted in values. They’ve embraced the Cal Rugby motto: “Grateful for everything, entitled to nothing.” It’s a mantra that speaks volumes about their culture and commitment. Today marks a momentous milestone, but it’s just the beginning.  A big cheers to everyone on this adventure, including Dave S. Olive Huang Ross Biestman Chris Petros Connor Theilmann Chris Trombetta Rikus Pretorius Anmol Bhasin Bryan Olshock Thomas Howard Nina Katsman Scott Booth Jason Rechel, CFA Special thanks to Talia Goldberg and Sameer Dholakia for their invaluable contributions. Talia helped discover ServiceTitan in 2015 and Sameer joined as an outside board member during his time as SendGrid’s CEO and became even more involved after joining Bessemer as a Partner. Here’s to ServiceTitan and to empowering the unsung heroes of home services! 🚀✨ Read the full story: ServiceTitan: https://lnkd.in/gNGfjTmT 

Congratulations, ServiceTitan, on your IPO! 🚀✨ From Series A to today, it has been an incredible privilege to be part of this journey and witness your remarkable leadership, Ara and Vahe! Co-founders and leaders, CEO Ara Mahdessian and President Vahe Kuzoyan, have built a vertical SaaS powerhouse, transforming the home services industry and bringing it into the digital age. Their story is deeply personal. Ara and Vahe are Armenian Americans who emigrated to the U.S. as children. Their fathers worked in the home-service trades, and they grew up watching them rise at dawn, work tirelessly all day, and spend their evenings buried in paperwork—manually handling invoices, scheduling, and other business tasks. That lived experience sparked Ara and Vahe’s passion and continues to fuel ServiceTitan’s mission: to empower the hard-working professionals who keep our homes running. ServiceTitan is often described as a radically customer-first company. Ara and Vahe’s empathy and respect for home service professionals permeate every corner of the business. By deeply listening to their customers’ needs, they’ve created solutions that drive loyalty and fuel growth at every stage. This level of founder-market fit is a rare and undeniable advantage. Building great software takes intellectual horsepower and technical expertise, but combining that with deep industry knowledge and unwavering customer focus? That’s the magic formula. ServiceTitan’s success is also rooted in values. They’ve embraced the Cal Rugby motto: “Grateful for everything, entitled to nothing.” It’s a mantra that speaks volumes about their culture and commitment. Today marks a momentous milestone, but it’s just the beginning.  A big cheers to everyone on this adventure, including Dave S. Olive Huang Ross Biestman Chris Petros Connor Theilmann Chris Trombetta Rikus Pretorius Anmol Bhasin Bryan Olshock Thomas Howard Nina Katsman Scott Booth Jason Rechel, CFA Special thanks to Talia Goldberg and Sameer Dholakia for their invaluable contributions. Talia helped discover ServiceTitan in 2015 and Sameer joined as an outside board member during his time as SendGrid’s CEO and became even more involved after joining Bessemer as a Partner. Here’s to ServiceTitan and to empowering the unsung heroes of home services! 🚀✨ Read the full story: ServiceTitan: https://lnkd.in/gNGfjTmT 

✨ “The biggest lesson my parents taught me about working in the trades is that you can get a lot of satisfaction by making a big impact on your community. And coincidentally, the biggest lesson my customers taught me about the trades is that you can make that big impact and also make a really successful business and be financially successful driving that impact for your company.” ✨ — Ara Mahdessian, CEO & Co-founder, ServiceTitan $TTAN #IPO #DayOfTheTrades

Congratulations, ServiceTitan, on your IPO! 🚀✨ From Series A to today, it has been an incredible privilege to be part of this journey and witness your remarkable leadership, Ara and Vahe! Co-founders and leaders, CEO Ara Mahdessian and President Vahe Kuzoyan, have built a vertical SaaS powerhouse, transforming the home services industry and bringing it into the digital age. Their story is deeply personal. Ara and Vahe are Armenian Americans who emigrated to the U.S. as children. Their fathers worked in the home-service trades, and they grew up watching them rise at dawn, work tirelessly all day, and spend their evenings buried in paperwork—manually handling invoices, scheduling, and other business tasks. That lived experience sparked Ara and Vahe’s passion and continues to fuel ServiceTitan’s mission: to empower the hard-working professionals who keep our homes running. ServiceTitan is often described as a radically customer-first company. Ara and Vahe’s empathy and respect for home service professionals permeate every corner of the business. By deeply listening to their customers’ needs, they’ve created solutions that drive loyalty and fuel growth at every stage. This level of founder-market fit is a rare and undeniable advantage. Building great software takes intellectual horsepower and technical expertise, but combining that with deep industry knowledge and unwavering customer focus? That’s the magic formula. ServiceTitan’s success is also rooted in values. They’ve embraced the Cal Rugby motto: “Grateful for everything, entitled to nothing.” It’s a mantra that speaks volumes about their culture and commitment. Today marks a momentous milestone, but it’s just the beginning.  A big cheers to everyone on this adventure, including Dave S. Olive Huang Ross Biestman Chris Petros Connor Theilmann Chris Trombetta Rikus Pretorius Anmol Bhasin Bryan Olshock Thomas Howard Nina Katsman Scott Booth Jason Rechel, CFA Special thanks to Talia Goldberg and Sameer Dholakia for their invaluable contributions. Talia helped discover ServiceTitan in 2015 and Sameer joined as an outside board member during his time as SendGrid’s CEO and became even more involved after joining Bessemer as a Partner. Here’s to ServiceTitan and to empowering the unsung heroes of home services! 🚀✨ Read the full story: ServiceTitan: https://lnkd.in/gNGfjTmT 

🎉 Thrilled to announce that Vapi has raised $20M in Series A funding led by Bessemer Venture Partners, with participation from Abstract Ventures, AI Grant, Y Combinator, Saga ventures, and legendary founder Michael Ovitz. For too long, we've adapted to technology. Now, technology is finally adapting to us. At Vapi, we're building the infrastructure that will power the voice revolution – enabling developers to create intelligent voice experiences that feel genuinely human. Our momentum speaks volumes: • Orchestrating millions of calls monthly across continents • 100,000+ developers building on our platform • Infrastructure ready for massive scale • Seamless integration capabilities We're not just building another voice AI company. We're creating the foundational layer that will enable the next generation of voice-first applications – from small businesses never missing a call to hospitals managing peak hours effortlessly. The future of human-machine interaction is conversational, and we're making it possible for developers to build that future today. Grateful to our team, customers, and investors for believing in our vision. This is just the beginning of our journey to make voice technology accessible to everyone. Want to be part of the voice revolution? We're hiring across all departments. Join us in shaping the future of human-computer interaction. Jordan Dearsley Nikhil Gupta